PGNiG announced on 7 June 2019 that it has agreed a deal with Total to acquire the latterâs 22.2% interest in PL 146 and PL 333 for an undisclosed sum. The licences contain the King Lear, Julius, Romeo and Espen discoveries. King LearÂ is likely to be developed as a satellite to Ula and PGNiG states that first gas is possible in 2025. King Lear (including Julius) has estimated recoverable reserves of 99 MMboe (NPD, December 2018).Â  As with its other recent acquisition (Tommeliten Alpha from Equinor in December 2018) PGNiG intends to export its share of gas to Poland through Baltic Pipe.   King Lear was drilled by Statoil (now Equinor) in 2012. Exploration well 2/4-21 targeted the same prospect that was drilled by 2/4-14 in 1989. 2/4-14 discovered oil and gas in two thin sandstone stringers in the Lower Cretaceous Mandal Formation but the well ended with a major underground blowout and had to subsequently be re-entered twice in 1990 in order to be controlled and then permanently abandoned. The later King Lear well proved a 48 m gas condensate column in the Upper Jurassic Farsund Formation and sidetrack 2/4-21 A (downdip) confirmed a 70 m gas condensate column. Aker BP took over operatorship of PL 146 and PL 333 from Equinor in late 2018. By developing King Lear as a satellite to its Ula field it will increase capacity utilisation at Ulaâs facilities and will supply Ula with additional injection gas for its WAG programme.   The Julius gas condensate discovery was made by Statoil in 2015 with 2/4-23 S. A 41 m gas condensate column was proven in the Upper Jurassic Ula Formation with no hydrocarbon contact. Estimated recoverable reserves for Julius (given at the time of discovery) were 15-75 MMboe. 2/4-23 S also appraised King Lear, confirming the presence of a 20 m gas condensate column in the Upper Jurassic Farsund Formation which is in pressure communication with the original discovery.    PL 146 also contains the small Romeo and Espen oil discoveries. Statoilâs Romeo well 2/4-22 S (2014) found a 27 m gross oil column in the main Rotliegendes target. Additionally, there was a 46 m gross oil column in the Middle Jurassic Bryne Formation and a 49 m gross oil column in the Bryne and Ula formations. Recoverable reserves were estimated at 4-13 MMboe. 2/4-11 was drilled on the Espen prospect in 1974 by Phillips. The Paleocene Ekofisk Formation produced a small flow of oil after acid stimulation. The NPD classifies both of these discoveries as âproduction is unlikelyâ.    Interest in both PL 146 and PL 333, upon completion of the deal, will be held by Aker BP ASA (77.8% + operator) and PGNiG Upstream Norway AS (22.2%).
PGNiG announced that it has agreed a deal with Total to acquire the latterâs 22.2% interest in PL 146 and PL 333 for an undisclosed sum.