Lime Petroleum Provides Updates On Its Brage Asset In Norway
- Administrator
- May 28
- 3 min read
Lime Petroleum AS (“Lime”) wishes to share updates on its Brage asset in Norway:
New discovery
Exploration and delineation drilling by the rig on the Brage platform, along the eastern flank of the Brage Field in licence PL055, in which Lime has a 33.8434 per cent interest, has resulted in a discovery in the southern part of the Prince prospect. The well encountered a 3 to 4-metre-thick sandstone layer in the Sognefjord Formation, and the well was drilled to a total measured depth of 1,138 metres along this sandstone layer. The well proved a 20-metre-thick oil column in sandstones with moderate to good reservoir properties. The oil/water contact was not encountered.
Preliminary estimates place the size of the discovery between 1.9 to 17.5 million barrels of oil equivalents (mmboe) in place. With preliminary estimates for recovery factor, this corresponds to between 0.3 to 2.8 mmboe. The Brage Unit partnership will now assess the discovery as part of the further development of the Brage Field.
The Brage Unit partnership consists of OKEA ASA (operator 35.2 per cent), Lime (33.8434 per cent), DNO Norge AS (14.2567 per cent), Petrolia NOCO AS (12.2575 per cent), and M Vest Energy AS (4.4424 per cent).
Background: Following the successful 2023 Kim discovery within the Brage Field, the partnership had submitted an out-of-round application for the neighbouring PL055FS and was awarded the licence in 2024, with the aim to test the Sognefjord East area for a potential extension of the 2023 Kim discovery reservoir. Pressure data collected in the PL055 discovery well showed that the reservoir is not connected to the 2023 Kim discovery, providing the partnership with valuable information for decisions on the location of future production wells on the Brage Field.
Drilling of new producers to continue in 2025
The partnership has recently finished drilling a production well in the Kim discovery. The well is expected to start production in late June/early July 2025. Two more wells are scheduled to be drilled on Brage in 2025, both of which will be from untapped reservoirs.
Two new producers have been drilled in 2024 and are now accounting for a large portion of Brage’s production and have made a positive impact on cash flow.
Development of PL740 Bestla on track
The development of PL740 Bestla (Lime: 17 per cent) as a tie-back to the Brage Field, is on time and on budget. The Plan for Development and Operation (PDO) for the licence was approved by the Norwegian Ministry of Energy on 19 November 2024 and first oil is expected in early 2027.
The PL740 partnership consists of OKEA ASA (operator 39.2788 per cent), DNO Norge AS (39.2788 per cent), Lime (17 per cent), and M Vest Energy AS (4.4424 per cent).
Mr Lars B. Hübert, Chief Executive Officer of Lime, said, “The latest discovery, continued drilling of producers and the Bestla tie-back to Brage are testament to the effectiveness of our near-field and in-field exploration and development strategy that fast-tracks production, minimises additional construction costs and in turn, reduces emissions, demonstrating how the lifespan of a field that has been producing for a long time can be extended.”
About the Brage Field
According to the Norwegian Offshore Directorate, the Brage Field is located in the northern part of the North Sea, 10 kilometres east of the Oseberg Field. The Brage Field was proven in 1980, and the plan for development and operation (PDO) was approved in 1990. Production started in 1993. The Brage Field is developed with an integrated production, drilling and living quarters facility with a steel jacket. The field has been in production for a long time, and work is under way to identify new methods to improve recovery. New wells are being drilled, often combined with investigation of nearby prospects.
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