ConocoPhillips announces significant oil discovery in Norwegian Sea

ConocoPhillips (operator, 80%) and Pandion Energy (20%) have made a new oil discovery in production licence 891 on the Slagugle prospect located near the Heidrun field in the Norwegian Sea.

Preliminary estimates place the size of the discovery at 75–200mn barrels of recoverable oil equivalent.

‘This discovery marks our fourth successful exploration well on the Norwegian Continental Shelf in the last 16 months,’ said Matt Fox, Executive Vice President and Chief Operating Officer. ‘All four discoveries have been made in well-documented parts of the North Sea and the Norwegian Sea and offer very low cost of supply resource additions that can extend our more than 50-year legacy in Norway.’

The discovery well was drilled in 1,165 feet of water to a total depth of 7,149 feet by the Leiv Eiriksson drilling rig.