MOL is putting its Evra-Iving oil and gas discovery off Norway on the fast track to development with plans for appraisal drilling this year as it looks to take advantage of the country's recent tax relief scheme designed to stimulate offshore investment. The Hungarian operator, which made the discovery in the North Sea earlier this year, is looking to spud appraisals as soon as the Northern Hemisphere autumn. The find currently has a resource estimate of between 12 million and 71 million barrels of oil equivalent. Sources with detailed knowledge of the discovery told Upstream that the reservoir is very complex, but with a successful appraisal well, the resource estimate could increase significantly. An MOL spokesperson told Upstream this week that the company is evaluating the discovery with an aim of presenting a plan for future activities. "This includes evaluating possible appraisal wells early in the fall (autumn). To further improve the database for the area, we are also about to complete acquisition of a new 3D seismic programme, which is being undertaken by PGS," they said.
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