OMV announces major gas discovery in the Norwegian Sea

This major gas discovery in the Norwegian Sea has an estimated value of up to 140 million barrels of oil equivalent.
El descubrimiento de gas en el bloque PL 1194 de OMV

OMV (Norge) AS , a subsidiary of Austrian company OMV , has revealed a major gas discovery in the Norwegian Sea. The well, drilled in block PL 1194, has found recoverable volumes estimated at between 30 and 140 million barrels of oil equivalent.

Gas discovery in block PL 1194

The well is located 300 km west of the Norwegian mainland and at a depth of 1,064 metres, just 65 kilometres from the existing Polarled pipeline infrastructure and the Aasta Hansteen field. This proximity facilitates potential development of the field, allowing for faster and more cost-effective planning and execution, with a reduced carbon footprint.

“Our goal is to increase the share of gas in our production portfolio to 60% by 2030. This commercial discovery boosts our diversification, and consolidates our position as a reliable gas supplier in Europe.”

Berislav Gašo, OMV’s Executive Vice President of Energy.

The company holds a 40% interest in the PL 1194 licence, operating in collaboration with Vår Energi ASA and Inpex Idemitsu Norge AS , each with a 30% interest. The partners will further evaluate the discovery to explore the possibilities of developing a gas field in the nearby infrastructure.

The potential development of this field will leverage existing infrastructure on the Aasta Hansteen host platform, resulting in a more streamlined process with lower costs.“This discovery could unlock significant potential in the area and extend the life of the Aasta Hansteen gas hub, in which OMV already has a stake,” added Gašo.

The well was successfully drilled using the Transocean Norge Transocean Norgea low-emission drilling unit, establishing and reinforcing the company’s commitment to safety, efficiency and operational sustainability.

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Source: OMV

Photo: Transoecean