Project Profile

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Location: Rungne Sub-basin, Viking Graben, North Sea 
Estimated Value: US$1 billion
Blocks: 30/6 and 30/3
Water Depth: 125m (approximately)
Start-up: 
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, North Sea. Production license 825 was awarded on February 15, 2016 (APA 2015). The area in this license consists of the northern part of block 30/6 and the southern part of block 30/3. The gas and condensate field lies at a depth of 125 metres. The target in this licence is a rotated/tilted fault block with Lower Jurassic Brent Group reservoirs that sits immediately up dip from well 30/6-11 which encountered oil shows and a potential live column. Faroe Petroleum Norge is the operator of PL825 with an ownership interest of 40%. Other licensees are Lundin Norway and Spirit Energy Norge. 
Operators:
Faroe Petroleum Norge: 40% interest 
Lundin Norway: 30% interest 
Spirit Energy Norge: 30% interest