By Muhsin Baris Tiryakioglu<br>
ANKARA (AA) – Italian energy giant ENI through its subsidiary Var Energi AS announced a North Sea oil and gas discovery on Tuesday in production license 869.
Var Energi, jointly owned by Eni with a 69.6 percent share and by HitecVision with a 30.4 percent interest, found oil and gas by drilling exploration well 24/9-14S and horizontal appraisal well 24/9-14A in the Froskelar Main prospect, according to the company's press release.
The wells, located about 4 kilometers northwest of the Boyla Field and 225 kilometers west of Norway's Stavanger city in water depth of 120 meters, were drilled with the semi-submersible drilling rig Scarabeo 8.
Var Energi AS holds a 20 percent interest in the license, while operator Aker BP ASA holds a majority stake of 60 percent while Lundin Norway AS holds a 20 percent share.
“Preliminary estimates place the size of the discovery between 63 and 132 thousand barrels of recoverable oil equivalent. A part of the discovery could straddle over to the U.K. side. The discovery could be linked to nearby existing infrastructure in the Alvheim area, ” the press release said.
Var Energi has ownership of more than 100 licenses and operates in oil and gas production over the whole Norwegian Continental Shelf; the Goliat field in the Barents Sea, the Marulk field in the Norwegian Sea and the Balder, Jotun and Ringhorne fields in the North Sea.
