Neptune Energy, in collaboration with its partners, has unveiled a significant gas discovery at the Kyrre prospect and confirmed volumes for the Ofelia appraisal well, both situated within the PL 929 license near the Gjøa field in the Norwegian sector of the North Sea.

Neptune successfully concluded the Ofelia appraisal well, 35/6-4 ST2, in the Agat formation, estimating a recoverable volume ranging from 16-33 million barrels of oil equivalent (mmboe). Simultaneously, a side-track, 35/6-4 A, into the overlying Kyrre prospect resulted in a new gas discovery, with estimated recoverable resources between 11-19 mmboe of gas. The combined recoverable volume from both discoveries stands at approximately 27-52 mmboe.

Neptune Energy's Managing Director for Norway and the UK, Odin Estensen, emphasized that confirming the Ofelia volume and making an additional nearby discovery strengthens the understanding of the Greater Gjøa Area, positioning it as a crucial growth hub for the company in Norway. The dual discoveries present an opportunity for a potential fast-track, low-cost, and low-carbon development.

Located 23 kilometers north of the Neptune-operated Gjøa platform, Ofelia Agat and Kyrre are being considered for development as tie-backs to Gjøa. Neptune will also explore the possibility of jointly developing Gjøa Nord (Hamlet), an oil and gas discovery with estimated recoverable volumes between 8-24 mmboe.

The Gjøa platform, operated by Neptune, is notable for being electrified with power from shore, producing at less than half the average carbon intensity of Norwegian Continental Shelf fields. This commitment to sustainability aligns with Neptune's focus on low-carbon development in the region.

Neptune's Director of Exploration & Development in Norway, Steinar Meland, highlighted the exceptional reservoir quality in the Kyrre discovery, enabling high production rates. Anticipating several exciting exploration opportunities in the area, such as the upcoming Cerisa well, Neptune remains at the forefront of advancing energy exploration and development in the North Sea.

The successful drilling operations of wells 35/6-4 ST2 & 35/6-4 A were conducted by the Deepsea Yantai, a semi-submersible rig owned by CIMC and operated by Odfjell Drilling. Project partners include operator Neptune Energy (40%), Wintershall Dea (20%), Pandion Energy (20%), Aker BP (10%), and DNO (10%).