VNG Norge, part of German group VNG, has lined up a drilling for for work on the Fenja development in the Norwegian Sea.
VNG Norge has issued a letter of intent (LOI) to North Atlantic Norway for the semisubmersible drilling rig West Phoenix for drilling of development wells on Fenja (previously known as Pil and Bue, or bow and arrow).
The LOI covers six development wells (three producers, two water injectors and one gas injector) on Fenja, with drilling starting in 2020. In addition, the LOI covers three optional wells before and three optional wells after the fixed period.
The final contract will be signed pending a final investment decision planned for later this month, and subject to the authorities’ approval of the plan for development and operations.
In June, VNG Norge submitted its US$1.3 billion (NOK11.5 billion) assessment to develop Fenja. Pil is estimated to hold 7.5-14.9 MMcum of recoverable oil and condensate, and 3.7-5.9 Bcm of recoverable gas. Bue is estimated to contain 1.5-2.6 MMcum of recoverable oil equivalent.
VNG Norge is operator of Fenja with 40% interest. Its partners in PL 586 include Point Resources (45%) and Faroe Petroleum Norge (25%).
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