OMV’s exploration success in Norway

The well discovered gas and condensate in both exploration targets with very good reservoir properties.

Knut Mauseth, Managing Director of OMV (Norge) AS: “This is our second exploration success as operator following the Wisting discovery, and the first HPHT exploration well we have drilled on the Norwegian Continental Shelf.”

The preliminary result is based on data gathered from both reservoir intervals and indicates a discovery size for Hades of 20 to 115 mn recoverable boe, and for Iris an estimated discovery size of 20 to 130 mn recoverable boe.

“I am extremely pleased with the well result and this is a testament to our drilling competency and exploration capability within OMV. Hades and Iris could be of significant size and the licensees will evaluate and further investigate the potential of the discoveries”, said Mauseth.

The exploration well is located in the Norwegian Sea, close to the existing infrastructure of the producing Morvin field and the Åsgard field, 244 km northwest of Kristiansund. The water depth in the area is 342 meters. The license was awarded in connection with APA 2015 (APA - “Awards in Predefined Areas”) . The well 6506/11-10 is the first well in PL 644 B.

Gary Ingram, Vice President Exploration of OMV, says, “The Hades and Iris exploration discovery well is very pleasing and is the result of excellent geosciences work.”

The Hades and Iris exploration well has been drilled with an excellent HSSE performance by the semi-submersible drilling rig Deepsea Bergen.

OMV (Norge) AS is the operator of PL 644/644 B with a 30 percent working interest. The partners are Statoil Petroleum AS (30%), Faroe Petroleum Norge AS (20%) and Spirit Energy Norge AS (20%).