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Aker BP exploration well makes find in Alvheim area of North Sea

Norway's Aker BP ASA disclosed March 19 it has completed the drilling of the Froskelår exploration well, which is located in license 869 along the Alvheim area, with part of the discovery covering the U.K.-Norwegian border.

Initial tests confirmed the reserves of oil and gas in the area and gross resource is estimated at between 63 million and 132 million barrels of oil equivalent, according to Italy's Eni SpA, which has a stake in the license.

Eni said exploration well 24/9-14S was drilled to a vertical depth of 2,097 meters below sea level and the main bore proved a hydrocarbon column of 68 meters with an oil zone of 38 meters.

Aker BP serves as the operator and holds a 60% stake in the license, while Lundin Norway AS owns 20% and Vår Energi AS, which is a joint venture between Eni and HitecVision AS, holds a 20% stake.