2016 Resource Assessment – West Orphan Basin

Nalcor Energy Oil and Gas in collaboration with the Newfoundland and Labrador Department of Natural Resources engaged Beicip Franlab – a third party consultant, to conduct an independent Resource Assessment of the West Orphan Basin. The objective of this project was to conduct a basin analysis, play risk analysis and resource assessment for the area subject to the 2016 license round

Through the integration of satellite slick data, 2D long offset seismic, 3D long offset seismic and seabed coring, a new Lower Tertiary play trend has been identified in the West Orphan Basin. The discovery of this play trend is fully described in a recent Nalcor conference paper accepted for presentation at the Society of Exploration Geophysicists International Annual Meeting in Dallas, Texas this fall. This newly identified prospectivity has resulted in Beicip Franlab’s resource assessment identifying the in place resource potential of 25.5 billion barrels of oil and 20.6 trillion cubic feet of gas in this area.

Future license rounds scheduled through 2020 will follow the same process with detailed independent resource assessments being conducted over relevant areas with results released prior to bid closing, ensuring the global industry have a scientifically quantified view of the potential of the blocks on offer. Each area covered by the resource assessment is approximately 2 percent (20,000 square kilometres) of Newfoundland and Labrador’s offshore basin area.

This phased and systematic approach will ensure a full evaluation of all the offshore basins over time with timely results delivered to industry prior to bidding.