OKEA Discovers Up to 17.5 Million Barrels Oil at North Sea Brage Field

Norwegian oil company OKEA and its partners have made a new oil discovery in the southern part of the Prince prospect along the eastern flank of the Brage field in the North Sea. Preliminary estimates suggest the discovery holds between 1.9 million and 17.5 million barrels of oil in place, with recoverable volumes ranging from 0.3 to 2.8 million barrels. The discovery was made via wildcat well 31/4-A-23 G, which encountered a 20-meter thick oil column in sandstone with good reservoir properties, while the adjacent well 31/4-A-23 F was dry. The Brage field, located 10 kilometers east of the Oseberg field, has been in production since 1993 under production license 055, and the new find will be assessed as part of ongoing efforts to enhance recovery and develop the field further. OKEA operates the license with a 35.2% stake, alongside partners Lime Petroleum, DNO Norge, Petrolia Novo, and M Vest Energy. This discovery marks the 13th and 14th exploration wells in the license, supporting OKEA's broader strategy to optimize subsea tiebacks and production efficiency in the North Sea.