Neptune Energy and Equnor make Sigrun East discovery

Neptune Energy

Equinor and partner Neptune have struck oil in the Sigrun East prospect in the North Sea. Recoverable resources are estimated at between 7 and 17 million barrels of oil equivalent. “Sigrun East is a win-win. Exploring near existing infrastructure we prove resources that can be profitably realized, while producing with low CO2 emissions,” says Equinor’s senior vice president for exploration in Norway and the UK, Nick Ashton.

The average CO emissions per produced unit on the Norwegian continental shelf is around half compared to the international average. Equinor’s goal is to reduce total greenhouse gas emissions from operated fields and onshore facilities in Norway by 40 percent by 2030.

We have said that we aim to be an industry leader on carbon-efficient production. Sigrun East contributes towards this end. Calculations so far indicate that we will manage to produce the oil with carbon emissions below 8 kg/barrel,” Ashton says.

Following Equinor’s announcement, Neptune’s Director of Exploration and Development in Norway, Steinar Meland, said: “We are very pleased to be part of the Sigrun East discovery together with operator Equinor. This is our second exploration discovery together on the Norwegian Continental Shelf within a few months, following the Echino South announcement in November last year.
“This latest discovery will add valuable resources to the Sigrun development, which is located in one of our core areas on the NCS. The Sigrun East wells demonstrate how important exploration is to our company’s growth strategy in Norway. Within a short time, Neptune will have two drilling rigs on contract as operator of six exploration wells to be drilled on the NCS within the next two years.”
The wells were drilled by the drilling rig West Phoenix, which will now move on to drill exploration well Grind (6507 / 8-10 S) in production license 889 in the Norwegian Sea, operated by Neptune Energy.