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The Jurassic aquifer in the Bjørnøyrenna Fault Complex is separated from the Hammerfest Basin by the eroded Loppa High and faults with large throws south of the high. The lithologies and the properties of the formations are similar to the Hammerfest Basin. The area west of the Loppa High is an active petroleum province with several gas clouds, seeps to the sea floor, gas hydrates and recent discoveries of oil and gas. The area is strongly segmented by large faults, and the degree of communication between the rotated fault blocks is not known. Lower Cretaceous sands have developed in some of the fault blocks and communication between segments is possible. One water-bearing closure has been selected as a candidate for CO2 storage.
Prospect I is located at a closed structure drilled by well 7219/9-1. The geometry of the trap is mapped using 3D seismic data of good quality. The prospect belongs to a fault segment within the Bjørnøyrenna Fault Complex. The Jurassic aquifer formations proved to have good reservoir properties and were water-filled. Shows of residual oil in the well are interpreted as remnants of oil resulting from natural leakage or the water sweep of a hydrocarbon accumulation. There are indications of gas brightening in the fault zone above the crest of the structure. The Fuglen and Hekkingen Formations are eroded at the top of the structure. The main risk for this prospect is considered to be the sealing properties of the cap rock, including the fault and the overlying Lower Cretaceous sedimentary rocks.