PGNiG in bid to find more oil in Shrek prospect
- Business & Finance
PGNiG Upstream Norway, a Norwegian subsidiary of Polish oil and gas company PGNiG, has hired Applied Petroleum Technology to conduct a post-drilling analysis of its recent Shrek discovery located in the Norwegian Sea as part of an effort to find more oil.
APT said on Thursday that it would provide geochemical and biostratigraphic analyses to evaluate where in the reservoir the oil sits, its nature, and origin.
Geir Hansen, APT’s head of petroleum geochemistry, said: “The results of our analyses will provide the operator and license partners with data that will further de-risk the Shrek prospect and, hopefully, enable them to find more oil.”
The project is the company’s first with PGNiG in Norway. APT expects to complete its geochemical and biostratigraphic analyses by the end of February.
To remind, PGNiG made its discovery on the Shrek prospect in the Norwegian Sea back in October 2019. Shrek is a notable prospect for PGNiG as it was the company’s first operated exploration well on the Norwegian Continental Shelf.
Based on preliminary estimates, Shrek’s recoverable resources range between 19 million and 38 million barrels of oil equivalent.
PGNiG Upstream Norway holds a 40 percent share in the PL838 license where the prospect is located. Aker BP and DEA Norge each hold a 30 percent interest.
The prospect is located about 210 kilometers northwest of Brønnøysund, five kilometers from the Aker BP-operated Skarv field, in which PGNiG holds an 11.9 percent interest.
PGNiG has previously stated that the partners in the license would consider tying the discovery into the Skarv facility.
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