Project Profile

Location: 6 km north-east of the Gjoa field in the northern North Sea, Norway
Reserves: 25-75 million boe +
Water Depth: 348 metres
Start-up year: 2020


The Cara Prospect is located offshore Cara prospect adjacent to the Gjoa field, Norway. France\'s Engie is the Operator of the project. Enegie sold a 20% stake in the Norwegian offshore licence for an undisclosed sum to Wellesley Petroleum, a Norwegian oil firm with private equity backing. Enegie now has a 30% stake in the Production Licence 636 and Cara Prospect. The other partners in the licence are Japan\'s Idemitsu with 30%, London-listed Tullow Oil with 20% and now Wellesley Petroleum with 20%. The partners plan to drill the first test well in the prospect in the summer of 2016. Engie will use the semi-submersible Transocean Arctic to drill the 36/7-4 probe in 348 metres of water in its operated production licence 636, about six kilometres north-east of the Gjoa field in the northern North Sea.


Operators:

Engie E&P: Operator of the project with 30% interest

Idemitsu: 30% interest

Pandion Energy:  20% interest

Wellesley Petroleum: 20% interest


Contractors:

TechnipFMC: Feasibility studies

Aker Engineering and Technology: Feasibility studies