OKEA aquisition into the Calypso prospect (PL398)

Written by Martin Teigen.

This is not directly RCM related, but I pay a close attention to an operator with the name OKEA. The Oslo Stock Exchange announced today that OKEA has acquired a 30 % interest in the PL938 license. PL938 is near the Draugen field, and the license pruchase agreement was made with Neptune Energy. Drilling will start in 2021 – 2022.

Andrew McCann, SVP Subsurface & Wells in OKEA commented ‘Calypso is an attractive prospect close to Draugen with a potential of up to 37 million barrels of oil’.

This is a few years ahead, but it sounds like another potential subsea tie-back. If there is HPHT, and exposed pipeline, then one could assume that RCM is a strong candidate. Most of these small diameter tie-back pipelines in Norway are installed by reel-lay, which makes RCM attractive.