The well, located in PL102 F/G, encountered the oil in the Paleocene Heimdal Formation, approximately 10 km from the existing Heimdal production hub. Wireline logs and pressure data have confirmed a hydrocarbon contact and samples of oil and water were acquired for further analysis.
According to preliminary estimates by Total, the discovery holds 3.1 MMbbl to 12.5 MMbbl of recoverable oil.
Ithaca's stake in the prospect was acquired through a transaction with Total in Dec-2013.
PL102 F/G ownership: Total (40%, operator), Petoro (30%), Lotos E&P (10%), Det Norske (10%) and Ithaca (10%).
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