Aker BP reported an oil discovery with the Liatarnet exploration well in license 442 in the North of Alvheim and Krafla-Askja (Noaka) area offshore Norway. The well, which is close to being completed, proved oil with a gross resource estimate of 80-200 million boe.
“The exploration success at Liatarnet is an encouraging result of a long-term strategy to unlock the exploration potential in the Noaka area and provide the basis for an area development,” said Evy Glorstad-Clark, senior vice-president.
Further data acquisition and analysis will be undertaken to determine the drainage strategy and recovery factor for the discovery, the company said.
Aker BP is operator with 90.26%. Lotos Exploration & Production Norge AS holds 9.74%.