Project Profile
Value: Undisclosed
Location: PL554 and PL554B, North Sea
Water Depth: 380m/ 1,254 ft
Unrisked Mean Potential: 18 million barrels
Situated on Blocks 34/6 & 34/9 in the Norwegian sector of the North Sea is the Garantiana prospect. The water depth of the site is about 1,247 feet (380 metres). Garantiana prospect is located on trend with Visund in the North Sea Tampen area and consists of stacked reservoirs of Brent, Cook and Statfjord formations. Exploratory drilling on the prospect is scheduled for 3Q 2012.
In April 2011, Det norske has sold a 20% interest in Production Licenses 554 and 554B to Svenska Petroleum Exploration. Det norske is reducing its interest from 40% to 20%. Under the agreement, Svenska will carry part of the expenses related to the first exploration well to be drilled in either license, including the Garantiana prospect. The prospect is scheduled for drilling in 2012. The licenses are situated east of the Snorre field in the Norwegian sector of the North Sea. In June 2011, Bridge Energy and Total reached an agreement for the farm-down of a 40% working interest in production licenses PL 554 and PL 554B. Under the agreement, Bridge will transfer operatorship to Total, leaving the company with a 20% working interest in the two licenses. The main prospect in the licenses is Garantiana, which is scheduled for drilling in 1Q 2012 using the Borgland Dolphin semisub.
Operators:
Statoil: Operator with 40% interest
Bridge Energy: 20% interest
Det Norske: 20% interest
Svenska: 20% interest
Contractors:
Wood Group: Concept and feasibility study
Dolphin: Drilling rig