On 29 October 2018 the Ministry of Petroleum and Energy confirmed that it has approved the transfer of a 15% interest in Grevling licence PL 038 D from operator OKEA to Chrysaor. This is Chrysaorâs first NCS licence and the companyâs focus is to develop and commercialise oil and gas resources. The deal was originally announced on 26 March 2018 and was waiting for Chrysaor to be pre-qualified as a Norwegian licensee before approval from the government could be granted. Chrysaor also has an option to further increase its stake in the licence to 35%. The development concept selection and FID for Grevling will be made in 2019, with hydrocarbon export via Chrysaorâs operated Armada platform in the UK sector one of the development options under consideration. First oil is possible in 2021 and the NPD quotes estimated recoverable reserves of 30 MMbo (December 2017).   OKEA acquired its first interest (30%) in Grevling from Aker BP in 2016. It then took Repsolâs 40% and operatorship in 2017.  Grevling was discovered in 2009 by 15/12-21 which encountered 67 m of net pay in the Middle Jurassic Hugin and Sleipner formations and the Upper Triassic Skagerrak Formation. Two DSTs were performed, flowing at a rate of 780 bo/d from the Sleipner and Skagerrak formations and 472 bo/d from the Hugin Formation (through a 20/64" choke). The OWC was not penetrated so a sidetrack (15/12-21 A) was drilled in a down-dip location to the east. This well confirmed oil in the same formations with a total of 36 m of net pay but the OWC was still not found. Appraisal well 15/12-23 was drilled in 2010 and found the OWC (or an ODT) at 3,251 m. The Hugin Formation was absent and the reservoir comprised just the Sleipner and Skagerrak formations which tested at a rate of 648 bo/d through a 16/64" choke. Sidetrack 15/12-23 A deviated to the west and found water-wet Hugin sands (with oil shows) and oil-bearing Sleipner sands (it TDâd in the Sleipner).     Following completion of the deal interest in PL 038 D is divided between OKEA AS (55% + operator), Petoro AS (30%) and Chrysaor Norge AS (15%).
Norway, PL 038