Equinor (previously Statoil) is farming down 20% in PL167 to Spirit Energy, awaiting regulatory approval as of 8 June 2018. The licence contains the Verdandi and Lille Prinsen discoveries. Recoverable resource estimates are 4 to 11 MMboe in Palaeocene Heimdal Formation at Verdandi, and 15 to 35 MMboe at Lille Prinsen, likely in Triassic sands. Potential upside has been identified within thin stringer sands of the Eocene Grid Formation in both discoveries. Lille Prinsen is located 2km S of Verdandi on the Utsira High, and the licence is located 4km NE of Ivar Aasen oil field which came online in December 2016, 5km SE from Hanz oil field which is being developed in the second phase of Ivar Aasen, and 8km NW of Johan Sverdrupp which will be brought into production in Q4 2019. PL167 was awarded in March 1991 in the 13th Licensing Round and originally covered 209 sq km on block 16/1, later reduced to 40.96 sq km in March 2000, and then to its current 21.36 sq km in January 2007. Pending completion of the Equinor-Spirit transaction, PL167 licensees are Equinor ASA (80% + Op) and Lundin Norway AS (20%).<P />
Equinor (previously Statoil) is farming down 20% in PL167 to Spirit Energy,