January 11, 2023
Near-term exploration
drilling programme
Exploration
Wellesley will drill 11 wells in the next 36 months alone, targeting an unrisked net resource of 214 mmboe.
Wellesley’s exploration strategy is aligned with the core ESG strategic themes of “Gas to Europe” and “Power From Shore Oil”. Any discoveries in the “Power From Shore Oil” theme will be developed as part of the FANTA area development, together with Wellesley’s Grosbeak, Swisher, Røver Nord and Toppand discoveries.
0
wells in 6
years
Wellesley moves quickly, planning and drilling more wells than others to enable commercial success
0%
commercial
success rate
Industry leading success rate, underpinned by integrated geological and seismic models
0
wells planned
in 2022-24
Attractive portfolio of high impact prospects to be drilled in the next three years
Near-term exploration
Røver Sør
- Low risk appraisal target following Røver Nord discovery
- Middle Jurassic Brent / Oseberg structural trap
- Charged from the Røver Nord structure, likely to share the same spill point
- To be developed as part of FANTA area development
| Licence | PL923 |
|---|---|
| Partners | Equinor 40% (op), Wellesley 20%, DNO 20%, Petoro 20% |
| PMean | 43 mmboe recoverable |
| CoS | 51% |
| Drilling | Q3 2022 |
Carmen
- Middle to Lower Jurassic structural trap
- HPHT gas/condensate reservoir
- De-risked by recent Toppand and Røver Nord discoveries
- Close to both Kvitebjørn and FANTA area development infrastructure
| Licence | PL1148 |
|---|---|
| Partners | Wellesley 50% (op), DNO 30%, Aker BP 10%, Equinor 10% |
| PMean | 109 MMboe recoverable |
| CoS | 35% |
| Drilling | 2023 |
Eggen
- Downfaulted Brent fault block
- Migration pathway from Røver Nord
- Oil/gas bearing reservoir
- To be developed as part of FANTA area development
| Licence | PL923 |
|---|---|
| Partners | Equinor 40% (op), Wellesley 20%, DNO 20%, Petoro 20% |
| PMean | 89 mmboe recoverable |
| CoS | 26% |
| Drilling | 2023 |
Litago
- Downthrown middle Jurassic structure
- Key risk is fault seal to the East
- High impact prospect with significant volumetric upside
- 90% located on PL923
- To be developed as part of FANTA area development
| Licence | PL923 |
|---|---|
| Partners | Equinor 40% (op), Wellesley 20%, DNO 20%, Petoro 20% |
| PMean | 51 mmboe recoverable |
| CoS | 20% |
| Drilling | 2023 |
Toppand East
- Low risk appraisal target following Toppand discovery
- Middle Jurassic Brent / Oseberg structural trap
- Charged from Toppand structure
- To be developed as part of FANTA area development
| Licence | PL248C |
|---|---|
| Partners | Equinor 30% (op), Wellesley 30%, Petoro 40% |
| PMean | 61 mmboe recoverable |
| CoS | 33% |
| Drilling | 2024 |
Harden
- Stratigraphic trap, derisked by Swisher and other area wells
- Upper Jurassic reservoir
- To be developed as part of FANTA area development
- 86% located on PL248C
| Licence | PL248C |
|---|---|
| Partners | Equinor 30% (op), Wellesley 30%, Petoro 40% |
| PMean | 49 mmboe recoverable |
| CoS | 29% |
| Drilling | 2024 |
Larven
- Downthrown Sognefjord structural/stratigraphic trap
- Hangingwall prospect adjacent to Troll field
- Key risk is migration
- 56% located on PL923
- To be developed as part of FANTA area development
| Licence | PL923 |
|---|---|
| Partners | Equinor 40% (op), Wellesley 20%, DNO 20%, Petoro 20% |
| PMean | 38 mmboe recoverable |
| CoS | 27% |
| Drilling | 2023 |
Minotaur
| Licence | PL878 |
|---|---|
| Partners | Equinor 40% (op), Wellesley 40%, Source 20% |
| PMean | 30 mmboe recoverable |
| CoS | 45% |
| Drilling | 2024 |
Atlantis Statfjord
- Deep Statfjord target beneath Brent discovery
- Statfjord porosity and permeability preserved at depth in analogues
- Brent / Statfjord interformational seals observed in nearby discoveries
- Can be developed as part of Atlantis
| Licence | PL878 |
|---|---|
| Partners | Equinor 40% (op), Wellesley 40%, Source 20% |
| PMean | 81 mmboe recoverable |
| CoS | 34% |
| Drilling | 2024 |
Fossegrim
| Licence | PL878 |
|---|---|
| Partners | Equinor 40% (op), Wellesley 40%, Source 20% |
| PMean | 39 mmboe recoverable |
| CoS | 41% |
| Drilling | 2024 |
Albus
- Late Triassic Lomvi HPHT reservoir
- Located in same fault block as abandoned Huldra field
- Huldra exploration wells proved sand in Lomvi but drilled outside of closure
- Similar structural setting to Corvus discovery, 15km to the south
- Development synergies with Atlantis
| Licence | PL878 |
|---|---|
| Partners | Equinor 40% (op), Wellesley 40%, Source 20% |
| PMean | 71 mmboe recoverable |
| CoS | 30% |
| Drilling | 2024 |
Gnomoria
- Proven oil column in Upper Jurassic sandstone
- Potential for improved reservoir quality away from discovery well
- Untested Middle Jurassic Brent & Oseberg prospects beneath discovery
- Prospects located in fault-bounded graben with expected sealing faults
- To be developed as part of FANTA area development
| Licence | PL 1184 S |
|---|---|
| Partners | Wellesley 50% (op), Equinor 50% |
| PMean | 39 mmboe |
| CoS | 38% |
| Drilling | TBC |
Robin
- Upthrown Middle Jurassic Brent structure
- Key risk is lateral seal capacity of bounding fault
- Gas-condensate expected phase
- 35km from Kvitebjørn facility
| Licence | PL 1183 S |
|---|---|
| Partners | Wellesley 50% (op), Equinor 50% |
| PMean | 27 mmboe |
| CoS | 35% |
| Drilling | TBC |
Toppand West
- Downthrown fault block adjacent to Toppand discovery
- Middle Jurassic Brent / Oseberg structural trap
- Reservoir and charge proven by Toppand
- To be developed as part of FANTA area development
| Licence | PL 630 CS |
|---|---|
| Partners | Equinor 50% (op), Wellesley 50% |
| PMean | 29 mmboe |
| CoS | 24% |
| Drilling | TBC |
Why Norway
Norway’s rich reserves of hydrocarbons, efficient tax terms, robust infrastructure and leading safety and environmental standards, make it the perfect place to focus Wellesley’s operations.
The country has been an established petroleum province for fifty years and will continue to produce for another fifty. Norway’s pipeline gas provides security of supply to its European markets in a time of increasing demand and geopolitical uncertainty.
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