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Result of Exploration Well 25/4 – 11

Asker, Norway – Monday 28th, August, 2017:   

Exploration well 25/4 -11, targeting the Hyrokkin prospect and operated by Aker BP ASA, was drilled using the Maersk Interceptor jack-up rig to a total vertical depth of 2372 meters below mean sea level.

The well was designed to test the hydrocarbon potential and reservoir properties of the Paleocene Heimdal Formation in the Hyrokkin prospect in PL 677, located approximately 20 km northeast of the Alvheim field and approximately 220 km northwest of Stavanger on the west coast of Norway.

The well encountered a 70m sandstone section in the Paleocene Heimdal Formation with excellent reservoir quality. The well is classified as dry and will be permanently plugged and abandoned.

 

About Fortis

Fortis currently holds working interest positions in 19 exploration licences across offshore Norway, including the Central and Viking Grabens, the Stord Basin, and the Nordland Ridge.

Fortis was founded in April 2010. The company focuses on creating value via exploration by utilising leading edge geophysical technology to identify and de-risk prospects. Its primary focus is new and revitalised play concepts in mature areas. The company has access to more than 280,000 km2 of state of the art 3D seismic in NW Europe, which provides a unique regional perspective and allows the company to:

Establish new and challenge established play concepts based on a super regional 3D data base

  • Increase exploration activity in mature as well as under-explored areas
  • Optimise and de-risk the exploration process
  • Create value for stakeholders

Fortis is an Azimuth Group company, financially backed by Seacrest Capital Group, a leading energy investor specialising in creating and growing regionally focused oil & gas exploration and production companies.

 

About the Azimuth Group

The Azimuth Group is an oil and gas offshore exploration asset management company formed as part of a collaboration between Seacrest Capital Group, an upstream focused private equity firm, and Petroleum Geo-Services, a leading seismic services company.

The Azimuth Group has a full suite of exploration and production expertise and is operator of licences in UK, Ireland, Indonesia, Namibia and Honduras and the holder of non-operated licence positions in Norway and Brazil.

The Azimuth Group of companies has used its unique access to the most extensive global library of broadband seismic data to generate regional basin prospectivity analyses, allowing the Group to secure significant exploration acreage positions in selected basins. This data subsequently enables identification of globally ranked, drill-ready exploration targets in both frontier and infrastructure-led, mature basins that are economically and commercially attractive and technically robust. Azimuth projects are typified by extensive pre-investment technical and commercial screening, which is made possible by regional expertise and the data library. A large global portfolio allows for high grading of the most attractive prospects creating material value across the portfolio with considerable risk mitigation through diversification of basins and play types.

  • Aker BP ASA
  • Fortis Petroleum Norway AS
  • MOL Norge AS
  • Fortis Petroleum Corporation
  • Michael S. Haagaard
  • +47 918 70 700
  • Vigo Communications
  • Patrick d’Ancona/Chris McMahon
  • +44 (0)20 7016 9570