Equinor confirmed on 8 June 2018 that it has agreed a deal to transfer 20% of its interest in PL 167 to Spirit Energy. The deal follows the announcement of the successful Lille Prinsen exploration well (16/1-29 S) in the same licence. The licence also contains the 2003 Verdandi oil and gas discovery directly above Lille Prinsen.  Lille Prinsen was discovered by exploration well 16/1-29 S which had Triassic / Lower Jurassic objectives. The well encountered a 95 m oil column in the main segment (17 m was in clastic rocks of moderate to good reservoir quality) with a OWC at 1,947 m TVDSS. A separate 30 m oil and gas column was proven in the Eocene Grid Formation. Thin sandstone layers (totalling 10 m) of very good reservoir quality comprise the main reservoir with a GWC at 1,436 m TVDSS and a OWC at 1,472 m TVDSS. Volumes in this segment were not evaluated however estimated recoverable reserves for the main segment, which is considered to be commercial, range from 16-35 MMbo. The well was abandoned on 3 June 2018.     Verdandi was drilled by Statoil with exploration well 16/1-6 S. Oil and gas were proven in the Eocene Grid Formation, gas was present in the Paleocene Heimdal Formation and the well reached TD at 1,997 m in the Ekofisk Formation. A sidetrack was drilled to further delineate the Heimdal Formation downdip but the reservoir was significantly deeper and thinner than expected and the well was abandoned as a dry hole. The discovery was appraised by the Lille Prinsen discovery well (16/1-29 S). It encountered a 15 m gas column in the Paleocene Heimdal Formation but no GWC was penetrated. The results were as prognosed and the estimated recoverable reserves for Verdandi remain unchanged.   Following completion of the deal interest in PL 167 will be divided between Equinor Energy AS (60% + operator), Lundin Norway AS (20%) and Spirit Energy Norge AS (20%).
Equinor confirmed that it has agreed a deal to transfer 20% of its interest in PL 167 to Spirit Energy. The deal follows the announcement of the successful Lille Prinsen exploration well (016/01-29 S) in the same licence.