Sval Energi AS

04/17/2024 | Press release | Distributed by Public on 04/17/2024 00:51

Sval makes oil discovery in the North Sea

Sval Energi has made an oil discovery in the central part of the North Sea.

Jørgen Moe, VP Exploration at Sval Energi, said: "Our strategy of exploring for oil and gas in mature areas on the Norwegian continental shelf is paying off. Sval's estimate of the size of Ringhorne North is 16 to 29 million barrels of oil equivalent (mmboe), which we think is a commercial discovery that can be tied into existing infrastructure in the area."

Ringhorne North is located in production license (PL) 956. The wells were drilled by the semi-submersible rig Deepsea Yantai whose next mission is to drill the Cerisa exploration well in the northern North Sea.

PL 956 was awarded in the Awards in Predefined Areas (APA) licensing round in 2018. The license partners are Sval Energi (15%), Vår Energi (operator, 50%), Aker BP (20%) and Harbour Energy (15%).