Neptune Energy has announced the start-up of drilling at its operated Calypso well in the Norwegian Sea.
Not to be confused with the major find off Cyprus in 2018, the prospect is located 9 miles north-west of the Draugen field and around 14 miles north-east of the Njord A platform, within the Neptune-operated PL938 Licence.
Resources are reputedly estimated at up to 37 million barrels of oil.
Operated by Neptune (30%), licence partners include OKEA (30%), Pandion Energy (20%) and Vår Energi (20%).
The exploration well, 6407/8-8 S, is being drilled by the semi-submersible Deepsea Yantai operated by Odfjell Drilling. Neptune secured a contract extension for the unit last year, booking the rig for an additional three wells in Norwegian waters including at Fenja, Ofelia and finally Calypso.
Ofelia was completed in August with the NPD quoting a resource range of 15.7 – 39 million boe.
The reservoir target at Calypso is the middle and lower Jurassic formations and is expected to be reached at a depth of approximately 2,960 metres. The drilling program comprises a main-bore (6407/8-8 S) with an optional side-track (6407/8-8 A) based on the outcome of the exploration well.
The well lies within one of Neptune’s “core areas” in Norwegian waters, and in the event of a commercial discovery, could potentially be tied back to existing infrastructure.
OKEA has previously suggested Draugen – which it operates – would be the “competitive choice” as host for development as there is already subsea infrastructure in the area that can be used.
The Norwegian late-life operator acquired its stake in the prospect in 2020 and will carry a portion of Neptune’s well costs.
Neptune Energy’s director of subsurface in Norway, Steinar Meland, said Calypso was “an exciting prospect and fits our exploration strategy of focusing on opportunities within core areas and near existing infrastructure.”