Cairn Energy, through its subsidiary Capricorn Norge, has acquired DEAâs 15% interest in PL 722 located on the Bjarmeland Platform in the Barents Sea. The transfer of interest is effective from 30 November 2017 and was reported by the NPD on 6 December 2017. The licence covers 586 sq km over 22nd Round blocks 7322/6 and 7323/4.  PL 722 lies approximately 35 km northwest of Wisting. The Wisting Central discovery was made in 2013 by 7324/8-1 which proved a 50 - 60 m oil column in the Jurassic Realgrunnen Group. This was the first oil discovery in the Hoop area of the Barents Sea and confirmed a new play. Appraisal well 7324/7-3 S was spudded in January 2016 targeting the Wisting Central South and Wisting Central West segments and was drilled to a TVDSS of 673 m but a total measured depth of 2,354 m due to a 1,402 m horizontal section through the reservoir. According to previous partner Tullow the well proved 1,250 m of net light oil pay through the horizontal section and the main reservoir was thicker than anticipated, leading to an increase of in-place reserves in these two segments. As of December 2016 the NPD reports recoverable reserves of 372 MMboe. In August 2017 OMV spudded Wisting Central appraisal well 7324/8-3. A 55 m oil column was proven and an updated reserves estimate is expected.  Interest in PL 722, following completion of the deal, is divided between Statoil Petroleum AS (45% + operator), Aker BP ASA (20%), Lundin Norway AS (20%) and Capricorn Norge AS (15%).
Norway, PL 722