Neptune Energy reports Schwegenheim oil discovery in Rhine Valley, Germany

Schwegenheim oil discovery : Neptune Energy has reported a discovery at the Schwegenheim exploration well in the Rhine Valley, Germany after carrying out a detailed analysis.

The company said that drilling operations were carried out to a depth of 2,600 metres between September and November 2019, with a couple of layers found to be oil bearing. The Schwegenheim exploration well has been now safely suspended until further notice, said the oil and gas company.

Commenting on the Schwegenheim oil discovery, Andreas Scheck – Neptune Energy managing director for Germany said: “The Bunter Sandstone reservoir, as an equivalent to the nearby Römerberg structure, was dry but two secondary target upper layers showed oil indications.

“During production tests, we have already transported 1,500 bbl of crude oil to the refinery in Karlsruhe. While initial results have been positive, further assessment is required before it can be determined that oil can be produced economically from this structure in the long term.”

Neptune Energy reports Schwegenheim oil discovery in Rhine Valley, Germany. Photo courtesy of Free-Photos from Pixabay.

Neptune Energy plans to apply to the responsible mining authority in the Rhineland-Palatinate state for seeking the required permits for further measures towards bringing the Schwegenheim oil discovery into production.

The company is the operator of the license holding a stake of 50% and is partnered by Palatina GeoCon, which holds the remaining 50% stake. Both Neptune Energy and Palatina GeoCon have been partners in the Römerberg oil field in the Rhine Valley, which has been in production since 2007.