OKEA ASA has announced oil discoveries made in the Cook and Statfjord formations of Norway’s Brage Field. The discoveries are considered commercial with preliminary estimates of gross recoverable resources in the range of 16 to 33 million barrels of oil equivalent (MMboe) combined.
OKEA ASA and its partners in production license 055 have made a discovery that is estimated to hold 300,000 to 2.8 million barrels of recoverable oil equivalent along the eastern flank of the already producing Brage field on Norway’s side of the North Sea.
The integrated engineering, procurement, construction and installation (EPCI) contract is aimed at expediting the subsea tieback process to extend the life of ageing platforms.