OKEA, together with operator Neptune Energy and licence partners, announce a new discovery in the Calypso exploration well (6407/8-8 S) in PL938 in the Norwegian Sea. OKEA holds a 30% working interest (WI) in the licence. The well was drilled to a vertical depth of 3,496 metres and encountered an estimated 8 metres thick gas column and 30 metres thick oil column in a 131 metres thick Garn Formation sandstone reservoir, of good to very good quality.

Preliminary estimates of recoverable oil equivalents are between 1 and 3.5 million standard cubic meters (MSm3), corresponding to 6-22 million barrels (boe). Calypso is OKEA's second discovery from three exploration wells in 2022, following the Hamlet discovery in the Gjøa licence in April. The PL938 licence group will now evaluate the commerciality of the discovery by studying options for effective development using existing infrastructure in the area, including the OKEA-operated Draugen field (OKEA 44.56% WI).

The Calypso discovery is located 14 kilometres north-west of the Draugen field and 22 kilometres north-east of the Njord A platform. Calypso was drilled by Deepsea Yantai, a semi-submersible rig owned by CIMC and operated by Odfjell Drilling. Neptune Energy Norge AS is operator of PL938 with 30% WI.

Other licence partners are Pandion Energy AS (20% WI) and Vår Energi ASA (20% WI).