Norwegian oil major Equinor has encountered oil in the Monument exploration well in the U.S. Gulf of Mexico.
Equinor is the operator of the Monument exploration well with a 50% interest and its co-venturers are Petronas’ subsidiary Progress Resources (30%) and Repsol (20%).
The Monument exploration well is located in the central U.S. Gulf of Mexico and it is Equinor’s first operated exploration well in the Gulf since 2015.
Equinor said on Monday that the Monument exploration well had found approximately 200 feet (c. 60 meters) of net oil pay with good reservoir characteristics in Paleogene sandstone.
According to Equinor, this provides an early indication of the productive reservoir interval at the well location. The well was drilled to a total depth of 33,348 feet (10,164 meters) using the Pacific Drilling-owned Pacific Khamsin drillship.
“We are pleased to have proved an accumulation of movable hydrocarbons in the Monument exploration well. However, determining the full potential of the discovery will require further appraisal drilling,” said Bjørn Inge Braathen , senior vice president of Exploration in North America.
Petronas Executive Vice President & Chief Executive Officer of Upstream, Adif Zulkifli , said: “This is the company’s first entry and discovery into oil and gas operations in the US Gulf of Mexico. We will continue to explore opportunities in the Americas region and strengthen the sustainability of our global portfolio.”