Drilling Of Brage South Exploration Well Completed

Lime Petroleum AS (“LPA”) today announced that drilling of an exploration well at the Brage South prospect targeting the deeper reservoir sections in the producing Brage Field in which LPA holds a 33.8434 per cent interest, has been completed.  Having entered the reservoir, logs indicated that the main reservoir targets in the Middle Jurassic Brent Group, as well as the deeper Cook Formation and Statfjord Formation were water bearing. The well was dry. The Brage South well was drilled from the Brage platform and is located approximately 7 kilometres south of the platform. A data acquisition programme will be completed before the well is side-tracked as a production well in the Fensfjord section of the Brage South structure.

Mr Lars Hübert, Chief Executive Officer of LPA, said, “The drilling of the Brage South prospect allows for economies of scale for a side-track of a production well in the Brage Field. We will continue to work with our partners to unlock further value in the Brage asset through other drilling programmes such as infill drilling.”

Wintershall Dea announced in May 2022 that it will divest ownership of the Brage Field and transfer the operatorship to the mid-late life specialist operator OKEA. The transaction and transfer of operatorship is expected to be completed in the fourth quarter of 2022.

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