The COSL Innovator semi-submersible rig is being positioned to drill a new well, designated 6610/7-U-3 (Arkenstone), in Block PL 1014 of the Norwegian Sea. The objective is to verify potential shallow gas deposits.

Background on the Suspended Well

The original Arkenstone well was suspended in January after encountering unexpected shallow gas, which necessitated a halt to drilling for safety reasons. Following this, the operator Equinor and its partners OKEA and Aker BP had to redesign the well. The initial step for the new operation is understood to be drilling a pilot hole into the shallow geological layers.

Prospect Significance

Arkenstone is characterized as a high-risk, high-reward frontier wildcat exploration prospect. According to Aker BP, its pre-drill resource potential is estimated to be between 60 million and 300 million barrels of oil equivalent. OKEA has described it as a strategically important "company maker" prospect, noting its location is far away from existing infrastructure.