September 1, 2022
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), Equinor 50% |
| PMean | 109 MMboe recoverable |
| CoS | 35% |
| Drilling | 2023 |
Eggen
- Downfaulted Brent fault block
- Migration pathway from Røver Nord
- Oil/gas bearing reservoir
| 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
| 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
| Licence | PL923 |
|---|---|
| Partners | Equinor 40% (op), Wellesley 20%, DNO 20%, Petoro 20% |
| PMean | 38 mmboe recoverable |
| CoS | 27% |
| Drilling | 2023 |
Minotaur
- Downthrown Brent appraisal target
- Adjacent to Atlantis discovery
- Development wells can be drilled from Atlantis subsea template
- Reservoir effectiveness and fault seal concept proven by Atlantis
| 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
- Brent reservoir in downthrown fault block east of Atlantis
- Dependent on fault seal juxtaposed against Statfjord Fm
- Fault seal and reservoir proven by Atlantis discovery
- Development synergies with Atlantis
- Could be developed together with Canon discovery
| 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
| Licence | PL878 |
|---|---|
| Partners | Equinor 40% (op), Wellesley 40%, Source 20% |
| PMean | 71 mmboe recoverable |
| CoS | 30% |
| Drilling | 2024 |
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.
Updates
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