Lundin Petroleum’s Gohta find in the Norwegian Arctic contains less oil and gas than previously thought after disappointing drilling results.
Oil companies had high hopes that Gohta, together with the nearby Alta find, could open a new oil region in the Norwegian Barents Sea.
The resource estimate for the discovery was between 10 and 21 million standard cubic metres (Sm3) of recoverable oil and between 5 and 8 billion standard cubic metres (Sm3) of recoverable gas.
But the Norwegian Petroleum Directorate said the resource estimate for the discovery will be reduced as a result of the dry well.
Lundin said it would provide a new resource estimate at year-end for the find, which had been estimated to hold between 91 million and 184 million barrels of oil equivalents.
The setback would not jeopardise the development of the nearby Alta find, it said.
Lundin said in a statement: “This result has no impact on Lundin Norway’s appraisal and conceptual development plans for Alta.”
Lundin Petroleum is the operator of the find and has a 40 percent stake. Aker BP owns a 60 percent stake. (Reporting by Gwladys Fouche, editing by Terje Solsvik and Susan Fenton)
The objective of the well was to delineate the northern part of the discovery and to investigate the reservoir quality in Permia carbonate rocks and Permian-Triassic conglomerates.
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