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Gas discovery for Sval Energi

Sval Energi has today announced the company’s first exploration discovery, a gas discovery in PL211, 10 km from the Dvalin field. The discovery is now being evaluated as a possible tie-back to existing infrastructure in the area.

“This is a major milestone for Sval Energi when we announce our first discovery, with most likely over 100 million barrels discovered near existing infrastructure”, says Nikolai Lyngø, CEO of Sval.

Exploration well 6507/4-2S was drilled by Operator Wintershall Dea in license PL 211, where Sval Energi and Petoro are the other partners. Sval Energi holds 10% of the license.

The primary prospect, Dvalin North in the Middle Jurassic Garn Formation, found a gas column of 85 meters. The discovery is estimated to be between 35 and 70 million barrels of recoverable oil equivalents. This discovery confirms the presence of Dvalin North in immediate vicinity to the main Dvalin field. No as/water contact was encountered.

Hydrocarbons were also discovered in the secondary Cretaceous targets in the Lysing and Lange Formations. Volumes in the Lysing are estimated to be between 19 and 31 million barrels of oil equivalents, with an additional 19 to 57 million barrels of oil equivalents in the Lange.

The partnership is now evaluating the discovery as a tie-back to the infrastructure in the area.

Sval Energi entered the license through its recent acquisition of Edison Norge, and this discovery further affirms the value of this acquisition.

“It is a pleasure to see how this discovery adds value to our recently completed acquisition of Edison Norge”, says Nikolai Lyngø.