Wellesley makes Norway’s largest discovery in a decade

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In a major breakthrough for the Norwegian oil and gas industry, Wellesley Petroleum AS has made the largest discovery on the Norwegian Continental Shelf in a decade. Its partner, DNO ASA, announced the significant gas and condensate discovery on the Carmen prospect in the Norwegian North Sea license PL1148. 

The preliminary evaluation of comprehensive data, including cores and fluid samples acquired from the discovery well and a follow-on extended sidetrack, reveals gross recoverable resources estimated to be in the range of 120-230 million barrels of oil equivalent (MMboe) on a P90-P10 basis. At 175 MMboe, the mid-point of this range, Carmen is now recognised as the largest discovery on the Norwegian Continental Shelf since 2013.

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The Carmen discovery has not only surpassed expectations but also established a deeper hydrocarbon-water contact, effectively tripling DNO’s pre-drill expected range. 

DNO said Carmen is its sixth discovery in the Troll-Gjøa area since 2021. The previous discoveries include Røver Nord, Kveikje, Ofelia, Røver Sør, and Heisenberg. The company indicated that the proximity of Carmen to existing infrastructure and clear routes towards commercialisation bodes well for the future development of this significant find.

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Bijan Mossavar-Rahmani, Executive Chairman of DNO ASA, expressed his enthusiasm for the discovery, stating, “Norway is the gift that keeps on giving. Carmen proves there are important discoveries still to be made, and Norway’s oldest oil company, DNO, will be part of this next chapter of the country’s oil and gas story.”

Wellesley Petroleum AS, as the operator, holds a 50% interest in the license, while DNO ASA holds 30 percent, and Equinor Energy AS and Aker BP ASA hold 10 percent each.

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