PL 535

This license is located on the Norvarg Dome in the central part of the Bjarmeland Platform in the Barents Sea, west of the Ververis discovery and northeast of the Arenaria discovery. Prior to application Rocksource acquired CSEM data in order to test the main prospect within the license. After processing of the data Rocksource has concluded that resistivity anomalies exist at depths corresponding with multiple target intervals, and that these resistivity anomalies are likely to be caused by hydrocarbons.

The license group consists of:
Total E&P Norge AS (Operator): 40%
Aker Exploration AS: 20%
North Energy AS: 20%
Rocksource ASA: 20%

Work programme

• Within 3 years: Acquire min. 500 sq.km. 3D seismic (April 30th 2012)
• Within 4 years (April 30th. 2013). Drill 1 firm exploration well 100 m into Gipsdalen (or 4,000 m) and decide on PDO or drop.
• Within 5 years (April 30th. 2014): Submit PDO
• Extension period: 30 years

Current status

On 8 August the partnership in PL 535 announced the results from the exploration well on Norvarg. Preliminary estimates provided by the operator Total indicate the size of the discovery at between 10- 50 recoverable GSm3 (billion cubic meters), corresponding to ca. 63-315 million barrels recoverable oil equivalent. A positive production test was conducted, and will be included in the ongoing evaluation of the Norvarg area to establish the size and extent of the discovery.

 Map showing PL 535 and surroundings

Last update: August 2011