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Rungne - PL825

The Rungne Licence is located between the Oseberg Øst and Huldra Fields within the eastern part of the Rungne Sub-basin in the Viking Graben.

Rungne

Rungne - PL825

Area Equity Partners Blocks
North Sea (NO) 40% equity Spirit Energy Norge AS (20%)
Lundin (20%)
Equinor Energy AS (10%)
DNO Norge AS (10%)
30/3, 6

The Rungne prospect is located c. 30 kilometres north west of the Company’s Brasse field and immediately north of the producing Oseberg oil field.

In October 2018 drilling commenced on well 30/6-30 targeting the Middle Jurassic Oseberg Formation, with secondary targets in the Etive and Ness formations.  In November 2018 it was announced that the well had encountered a 56 metre gross (17 metre net) gas/condensate column in good quality interbedded Middle Jurassic Ness formation sandstones and 86 metres of gross water bearing reservoir in the primary Oseberg formation target.  No hydrocarbon contact was encountered within the Ness formation.

The preliminary gas and condensate recoverable volume range for the discovery in the Ness formation is likely to be in the range of 12-75 bscf and 0.5-3.9 mmbbls respectively (combined 2.7-17.0 mmboe) and therefore unlikely to be commercial in isolation.  The Rungne exploration well 30/6-30 was drilled to a total depth of 3,469 metres below sea level.  Drilling operations were undertaken using the semi-submersible Transocean Arctic rig.

This licence was awarded under the APA 2015 licensing round.

* Lundin Norway AS and Spirit Energy Norge AS have assigned respectively a 20% and 10% interest in PL825 to Equinor Energy AS and Lundin Norway AS its remaining 10% to DNO Norge AS, all of which are subject to completion.