Petrolia Noco today announces that drilling has commenced on the Bounty Exploration Well 6306/3-2. The licence was acquired by Petrolia Noco in 2020 and is located on the Frøya High. The Bounty well is identified as a potential high reward well at a shallow target depth by the license.

The Bounty well is being drilled by Transocean Norge, a 6th generation HE semi-submersible rig, owned and operated by Transocean. The well is located in the Norwegian Sea 60 kilometres southwest of the Njord field at a water depth of 214 metres. The reservoir is at a depth of 1,650 to 1,700 metres.

Petrolia Noco’s Executive Chairman Robert Arnott said: “This is a high risk well testing a prospect with potential to add significant resources and value to shareholders, if successful.”

PL935 licence partners: ConocoPhillips Skandinavia AS (Operator and 40%), Petoro (20%), Lundin (20%) Petrolia Noco (10%) and Equinor (10%).