Neptune Energy Makes Another Discover at Calypso

Neptune Energy and its license partners announced a new discovery at the Calypso exploration well (PL938) in the Norwegian Sea.

Preliminary estimates are between 1 - 3.5 million standard cubic meters (MSm3) of recoverable oil equivalents, corresponding to 6-22 million barrels of oil equivalent (boe).

Calypso is Neptune Energy’s third discovery in six months on the Norwegian Continental Shelf.

Managing Director for Neptune Energy in Norway and the UK, Odin Estensen, said: “We actively explore in areas close to existing infrastructure. These near-field discoveries allow for low cost and low carbon developments.

“Initial analysis of Calypso indicates commercial potential. Together with our partners in the Calypso license we will now study options to effectively develop the discovery using nearby infrastructure.”

The Calypso discovery is located within one of Neptune’s core areas, 14 kilometers north-west of the Draugen field and 22 kilometers north-east of the Njord A platform.

Well 6407/8-8S was drilled to a vertical depth of 3,496 meters and encountered an estimated 8 meter thick gas column and 30-metre thick oil column in a 131 meter thick Garn Formation sandstone reservoir, of good to very good quality.

Calypso was drilled by the Deepsea Yantai, a semi-submersible rig owned by CIMC and operated by Odfjell Drilling.

Partners: Neptune Energy (operator, 30%), OKEA ASA (30%), Pandion Energy AS (20%) and Vår Energi ASA (20%)