DNO has agreed a deal with Chevron to acquire the latterâs 20% interest in PL 859 (Korpfjell) in the northeastern area of the Barents Sea, close to the border with Russia. This is Chevronâs last remaining licence on the NCS and it is understood (from reports in the Press) that the company will subsequently close its Norwegian office. It did not apply for any acreage in the APA 2018 bidding round which closed in September 2018. The deal to transfer the licence is awaiting government approval.  PL 859 is operated by Equinor. The company will return to the licence in 2019 to drill a second well on the Korpfjell prospect (Korpfjell Deep). 7335/3-1 will be located approximately 8 km south of the first Korpfjell well and has a planned TD of 4,300 m. The objectives are the Jurassic / Triassic Realgrunnen Group, the Triassic Kobbe Formation, the Lower Triassic Havert Formation and the Lower Triassic Induan Formation. The well will also investigate the deep Upper Permian Orret Formation source. According to partner Lundin, potential reserves are 201 MMboe but chance of success is just 8%  The hotly-anticipated 2017 Korpfjell exploration well 7435/12-1 proved a 34 m gas column in the Lower-Middle Jurassic Sto Formation with estimated recoverable reserves of 212-424 Bcfg (40-75 MMboe) which in this location is non-commercial. The prospect was mapped with a closure of 850 sq km, which is 3-4 times the closure of Johan Sverdrup, and it was the first well to be drilled in the recently awarded 23rd Round acreage.
DNO has reached agreement with Chevron to bay itâs 20% interest (only asset in the country) in PL 859 (Korpfjell) licence (Equinor op. 30%, Petoro 20%, Lundin 15%, ConocoPhillips 15%).