Equinor and Wellesley have completed a series of deals relating to assets in the North Sea. Wellesley has gained from Equinor a 45% operated interest in PL 090 JS (35/11), which covers the southwestern part of Grosbeak, and has increased its interests in both PL 884 (35/3) and PL 885 (35/3, 36/1) by 10%. PL 884 contains the Agat and Cyclops discoveries and Wellesley is understood to be considering drilling a further well at Agat in the near future. PL 885 lies immediately to the east and a well will be drilled on the Presto prospect in late 2018 / early 2019. Lastly, Equinor has gained a 10% interest in PL 903 (25/1, 30/10) from Wellesley.   Wellesley has been building up its acreage position in the Grosbeak area over the last year or so. It drilled three new wells in the area in 2018 â the Serin dry hole, the Kallasen minor oil discovery and a successful Grosbeak West appraisal well. The latter â 35/11-21 S - proved a 90 m oil column (45 m net sandstone) in the Middle Jurassic Ness and Etive sections and was tested at a rate of 6,265 MMbo/d through a 48/64â choke. Sidetrack 35/11-21 A found a 45 m gas column in the Sognefjord Formation (20 m sandstone), a 1 m gas column above an 8 m oil column (2 m sandstone) in the Fensfjord Formation and a 50 m oil column (15 m sandstone) in the Ness Formation. Total recoverable reserves are estimated by the NPD at 50-120 MMbo plus 250-413 Bcfg, a significant increase on the previous volumes of 35-190 MMboe (based on the discovery well).  Agat was discovered in 1980 by 35/3-2 which tested gas condensate from the Lower Cretaceous Agat Formation sandstone. An appraisal was drilled straight afterwards to the east but mechanical problems forced it to be junked. The well was re-spudded as 35/3-4 and was successful. Cyclops exploration well 35/3-7 S was drilled in 2009 by VNG and gas was encountered in the Agat Formation. Based on the results of this well, total estimated recoverable reserves for the whole Agat area (including 35/3-2 and 35/3-4) are 105-280 Bcf gas and therefore future development is possible.  Equinorâs Presto well 36/1-3 will be located to the east of Agat and the prospect has potential recoverable reserves of 160 MMboe. The main objective is the Agat Sandstone which is mapped to pinch-out against the Basement High. There is also secondary potential in an Upper Cretaceous, stacked, channelised turbidite fan complex.  PL 903 covers the abandoned Frigg, Northeast Frigg and Odin fields. A re-development of these fields is being considered as part of the NOAKA project (Aker BPâs North of Alvheim area fields and Equinorâs Krafla and Askja area fields).  Following completion of all deals, interests in PL 090 JS are divided between Wellesley Petroleum AS (45% + operator), Idemitsu Petroleum Norge AS (40%) and Neptune Energy Norge AS (15%), interests in PL 884 are held by Wellesley Petroleum AS (50% + operator), Cairn through Capricorn Norge AS (30%) and Equinor Energy AS (20%), interests in PL 885 are divided between Equinor Energy AS (20% + operator), Cairn through Capricorn Norge AS (30%), Wellesley Petroleum AS (30%) and Petoro AS (20%) and interests in PL 903 are held by Equinor Energy AS (90% + operator) and Wellesley Petroleum AS (10%).
Equinor and Wellesley have completed a series of deals relating to assets in the North Sea. Wellesley has gained from Equinor a 45% operated interest in PL 090 JS (35/11), which covers the southwestern part of Grosbeak, and has increased its interests in both PL 884 (35/3) and PL 885 (35/3, 36/1) by 10%.