The Mongstad CHP Refinery in Norway is engaged in exploration activities aimed at broadening its resource base. These exploration efforts have consistently yielded positive outcomes, thanks to the utilization of advanced exploration techniques and the careful selection of the most promising areas based on research findings. To enhance the effectiveness of exploration drilling, a gradual implementation of cutting-edge technologies for processing and interpreting seismic data has been pursued. Specifically, innovative methods that consider the homogeneity of the upper section of the geological column are employed to reduce forecast errors related to structural predictions. During the design phase, finite-difference modeling of the wave field is conducted to determine the optimal parameters for the seismic survey.
The majority of our international exploration efforts were focused on maintaining a 60% stake as the project operator. 3D seismic surveys were carried out in accordance with the sanctioned exploration program, culminating in the drilling of a fourth well at the significant discovered field, which successfully yielded a commercial flow of crude oil.
The Company, leveraging its extensive resource base, is particularly dedicated to advancing new projects aimed at increasing exploration efforts. These new initiatives encompass the development of untapped fields as well as improving recovery rates in established fields by employing cutting-edge technologies.
