Rex International Holding, a technology-driven oil exploration and production company, has announced a minor discovery at the PL867 Gjegnalunden well. The well is operated by Aker BP, with Rex’s subsidiary, Lime Petroleum AS (LPA), holding a 20% interest. Situated approximately 12 km north of the Ivar Aasen field in the Norwegian North Sea, the well lies 187 km southwest of Haugesund.
The primary aim of the Gjegnalunden well was to explore hydrocarbons within the Middle Jurassic reservoir rocks of the Hugin and Sleipner formations. The secondary goal focused on the deeper Triassic Skagerrak Formation. During drilling, a thin oil column of roughly 3 metres was encountered in the Hugin Formation, characterised by moderate-quality reservoir sandstone. An oil-water contact was confirmed at a depth of 3,654 metres True Vertical Depth Sub Sea (TVDSS), with indications of hydrocarbons both above and below this column in the Hugin and Sleipner formations.
The well reached a vertical depth of 4,057 metres below sea level (4,150 metres measured depth). Preliminary calculations by the operator suggest that the recoverable oil equivalents could range between 0.5 and 1.4 million standard cubic metres (Sm³). LPA's initial volume assessments indicate the potential for a larger accumulation.
Lars Hübert, Chief Executive Officer of Lime Petroleum AS, expressed a desire for a thicker hydrocarbon column but conveyed optimism regarding the findings. He stated, “We are encouraged by the results and will continue to analyse the well data to identify further resources within PL867. Additionally, we will evaluate these findings in the context of the prospectivity in the neighbouring PL818 licence, which includes the Orkja prospect, where LPA holds a 30% interest.”