The Norwegian Petroleum Directorate (NPD) announced that MOL Norge completed an oil and gas discovery close to the Balder field in the North Sea – 25/8-19 S and 25/8-19 A. Namely, the wells were drilled 8 kilometers northwest of Ringhorne on the Balder field in the central part of the North Sea and 200 kilometers west of Stavanger.
In fact, the exploration well in the 820S licence area was drilled to a maximum depth of 2.652 m below sea surface, while the oil and gas discovered, successfully tested for about 3.463 barrels of oil equivalent per day.
According to several reports, the potential resources that were found in the main formation are among 12 and 71 million barrels of oil and gas equivalent.
Following additional technical procedures, the commerciality of the discovery will be further examined.
For the records, MOL Norge AS holds a 40% of working interest in the offshore operations of the 820S license, along with Lndin Norway AS (40%), Wintershall Dea Norge AS (10%) and Pandion Energy AS (10%).
Concluding, MOL Group has entered Norway back in 2015, with the acquisition of 100 percent ownership of Ithaca Petroleum Norge while the drilling project started its operations in 2018.
