The drilling of the Cape Vulture exploration well started in early December 2016. The well was drilled in the license 128 as a result of the award of license 128D in the APA round in 2015 (Award in Predefined Areas). The drilling of the well is the result of the development of a new exploration concept for the Nordland Ridge.
The Cape Vulture discovery opens up for further exploration opportunities in the area. Statoil will now analyse the results in detail, and identify any new exploration targets in the area.
Recoverable reserves are initially estimated at between 20 and 80 million barrels of recoverable oil equivalents and plans for further appraisal of the discovery will be made. Located north-west of Norne, a tie-back of the discovery to the FPSO at the Norne field will be considered.
Statoil is the operator of license 128 and 128D with a 64 % share, Petoro holds a 24.5 % share and ENI a 11.5 % share.