Norway's OKEA announces new discovery at Brage field in North Sea, increasing resources, with production start scheduled for 2027.

Norwegian oil company OKEA has discovered oil in the Talisker West segment near the Brage field in the North Sea, with a significant upward revision of resource estimates. According to OKEA, as the Talisker Statfjord formation has matured further, the P50 resource estimate for the Talisker West discovery has increased from 19 million barrels of oil equivalent to 28 million barrels of oil equivalent. The total recoverable volumes from the Statfjord and Cook formations have also risen from 16–33 million barrels of oil equivalent to 23–44 million barrels of oil equivalent.

The development plan remains unchanged, with production expected to begin in 2027 and a breakeven cost below $10 per barrel. The discovery represents low-cost barrels that can be efficiently developed and brought online quickly. Since drilling and production will be carried out directly through the Brage platform, the development concept is capital efficient and robust.

The additional volumes will enhance value creation at the Brage field. The Talisker West discovery is located in the Brage field in the North Sea, 10 kilometers east of the Oseberg field and approximately 120 kilometers west of Bergen. The well was drilled from the Brage platform to a depth of 10,223 meters. License partners include OKEA (operator, 35.2%), Lime Petroleum (33.8434%), DNO Norge (14.2567%), Petrolia NOCO (12.2575%), and M Vest Energy (4.4424%).

The Brage field was discovered in 1980, with its development and production plan approved in 1990. Production began in 1993, and the field features a steel jacket facility. This new discovery brings positive momentum to oil development in the North Sea.

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