Chevron has completed the farm out of its 20% stake in PL859 to DNO Norge effective 22 November 2018, and hence is no longer involved in the Norwegian Continental Shelf (NCS). Chevron confirmed in early October 2018 that it had signed a deal to transfer its last remaining NCS licence stake to DNO in July 2018. PL859 contains the Korpfjell Shallow gas discovery estimated at 210 to 425 Bcfg recoverable resources, drilled in 2017 by 7435/12-1 (TD: 1,540m MD) which encountered a 34m gas column in the Early to Middle Jurassic Sto Formation (Fm) primary objective, with good to very good reservoir quality, and a gas/water contact at 580m SSTVD. The well also identified minor gas in poor quality Middle Triassic Kobbe Fm and water-bearing Middle to Late Triassic Snadd Fm of moderate quality. The partners plan to drill the Korpfjell Deep NFW 7335/3-1 on the licence in Q4 2018 to fulfil the two well firm commitment due by mid 2019, with the "West Hercules" semi-sub going on contract to Equinor in early October 2018 for a three well campaign. It is targeting Triassic Fruholmen and Early to Middle Jurassic Sto Fms, with a secondary target in sandstones of the Triassic Snadd, Cob and Havert Fms, and deeper Permian source rock in the Orret Fm. PL859 covers blocks 7434/7, 8 & 9, 7435/9, 10, 11 & 12, 7335/1, 2 & 3, 7336/1 & 7436/10 (3,409 sq km), and was awarded on 10 June 2016 in the 23rd Round. PL859 equity partners are now Equinor Energy AS (previously Statoil, 30%+ Op), DNO Norge AS (20%), ConocoPhillips Skandinavia AS (15%), Lundin Norway AS (15%) and Petoro AS (20%).
Chevron has completed the farm out of its 20% stake in PL859 to DNO Norge effective 22 November 2018, and hence is no longer involved in the Norwegian Continental Shelf (NCS). 