The discovery was made in Paleocene injectite sandstones of excellent reservoir quality with preliminary estimates of gross recoverable resources in the range of 39 to 75 million barrels of oil equivalent (MMboe), with a mean of 55 MMboe.
The Kjøttkake exploration well encountered a 41-meter oil column and a 9-meter gas column.
A sidetrack drilled horizontally 1,350 meters westwards along the reservoir in the Sotra Formation confirmed the presence of the oil column throughout the discovery.
Executive Chairman Bijan Mossavar-Rahmani said:
- we are on a hot streak in Norway;
- our latest and most exciting discovery this year, Kjøttkake, is close to existing infrastructure in the Troll-Gjøa area, and we will be relentless in pursuing its commercialization.
The Company has also racked up discoveries in other parts of the Norwegian Continental Shelf, including Norma (2023) and Othello (2024), both play-opening finds and both operated by DNO.
Partners in license PL1182 S include Aker BP ASA (30 percent), Concedo AS (15 percent) and Japex Norge AS (15 percent). The wells were drilled using the Deepsea Yantai rig.
Following its exploration success, the Company has stepped up purchases of producing assets to balance its Norwegian portfolio and help fund coming developments.
In early March, DNO announced the transformative acquisition of Sval Energi Group AS, which will increase North Sea 2P reserves from 48 million barrels of oil equivalent (boe) to 189 million boe post-closing and 2C resources from 144 million boe to 246 million boe (pro forma figures as of yearend 2024).
The acquisition, which is expected to close by mid-year, will turn the North Sea into the biggest contributor to Company’s net production with some 60 percent of the total, with the balance coming predominantly from two operated fields, Tawke and Peshkabir, in the Kurdistan region of Iraq.
