Reference is made to our press releases of 18 February and 17 March 2021.
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well 15/12-25. The well targeted petroleum in reservoirs of Paleocene age (Ty
Formation). The well was drilled to a total depth of 2,795 m below mean sea
level and terminated in limestone, also assumed to be of Paleocene age. The
water depth is 86 m.
The well encountered a 40 m gas condensate column in reservoir of good to very
good quality. No gas-water contact was observed. The well was not formation
tested but coring, sampling and data acquisition were performed, including
pressure data. The reservoir pressure is highly depleted and the remaining
resources are interpreted to be insufficient for development. The well is now
being plugged for abandonment and no further data will be acquired.
This is the first exploration well drilled in PL973. The licence was awarded in
2019 through the APA2018 licensing round. Well 15/12-25 was drilled by the COSL
Innovator rig which will now drill well 15/12-26 in the same licence.
The well results will be published shortly on the Norwegian Petroleum
Directorate Fact pages.
Chrysaor Norge AS (operator) holds 50%; OKEA ASA 30% and Petoro AS 20% WI in the
PL973 licence.
For further information please contact:
Andrew McCann, SVP Subsurface & Wells; + 47 415 07 726
Birte Norheim, CFO; +47 952 93 321
About OKEA
OKEA ASA is an independent Exploration and Production (E&P) company and operator
on the NCS with a current production of ~16,000 boepd. OKEA targets profitable
production growth within the current portfolio combined with an opportunistic
approach to M&A.
OKEA ASA is listed on the Oslo Stock Exchange under the ticker “OKEA”.
More information on
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This information is considered to be inside information pursuant to the EU
Market Abuse Regulation, and is subject to disclosure requirements pursuant to
Section 5-12 of the Norwegian Securities Trading Act.
The stock exchange announcement was published by Birte Norheim, CFO, OKEA ASA.
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