Edison’s first wildcat in Norway dry

Norway

OSLO, July 22, 2015 – Edison’s exploratory well in the Haribo prospect in offshore Norway has failed to find any hydrocarbons. The announcement was made by independent Noreco Norway, Edison’s partner in licence PL616 in the Norwegian North Sea.

Edison had used the semi-submersible drilling rig Transocean Searcher to drill in 68 metres of water to a total depth of 3,388 metres in the Upper Cretaceous Hidra formation. The well is located 7 kilometres southwest of BP’s Valhall field. Noreco Norway said Edison’s priority is now to plug and abandon the well.

Original estimates for the prospect had put gross reserves at between 69 million and 192 million barrels of oil, with a 42-percent probability of drilling success.

Edison is the operator of licence PL616 through its Norwegian arm, Edison Norge, which holds a 25-percent stake. It is the Italian major’s first operatorship in the country. The remaining shareholders are Noreco Norway (20 percent), and domestics Lime Petroleum Norway (20 percent), Concedo (20 percent), North Energy (15 percent) and Skagen 44 (5 percent).