Neptune Energy has announced an updated volume estimate for its Dugong discovery, located in the Norwegian section of the North Sea.
The adjusted resource range is based on results from the recently successfully completed appraisal well (34/4-16 S).
The well was drilled by the Deepsea Yantai, a new semi-submersible rig owned by CIMC and operated by Odfjell Drilling.
The main objective of the well was achieved by establishing the oil-water contact.
Neptune’s revised estimate of the indicative recoverable resources s 40-108 million barrels of oil equivalent (mmboe), which will be subject to further detailed analysis and review. A drill stem test on the well is planned at a later stage.
Dugong is located approximately 158 kilometres west of Florø, Norway, at a water depth of 330 metres, and is close to the existing production facilities of the Snorre and Statfjord fields. The reservoir lies at a depth of 3,250-3,500 metres.
The Dugong licence partners are Neptune Energy (operator and 45 per cent), Petrolia NOCO (20 per cent), Idemitsu Petroleum Norge (20 per cent) and Concedo (15 per cent).