Norway's Equinor has started drilling a well at the Egyptian Vulture prospect in the Norwegian Sea, its UK project partner Longboat Energy said on September 21.
Equinor is using the West Hercules semi-submersible rig to sink the well, which is targeting up to 208mn barrels of oil equivalent in gross resources. The chance of success is estimated at 25%, with the key risks related to reservoir quality and thickness, Longboat said.
This is the second of seven wells planned at prospects that Longboat farmed into in a deal earlier this year. The first was drilled at the Var Enerji-operated Rodhette prospect in mid-September. The Egyptian Vulture well was scheduled to be spudded in late August but was delayed.
"It is no overstatement to say that the next few weeks will be an extremely busy and exciting time for Longboat with each of these wells having the potential to create significant shareholder value," Longboat CEO Helge Hammer said in a statement.
Read the latest issue of the OGV Energy magazine HERE.