Statoil Finds Oil in Svale North Prospect (Norway)

Statoil has together with partners in PL128 made an oil discovery in the Svale North prospect in the Norwegian Sea, approximately nine kilometres northeast of the Norne field.

Exploration well 6608/10-15, drilled by the Songa Trym drilling rig, has proven a 45 metre oil column in the Åre formation and a 45 metre oil column in the Melke formation. The reservoir properties were as expected in both targets.

The preliminary estimated volume of the discovery is in the range of 6 to 19 million barrels of recoverable oil. It will be considered if the discovery can be tied to the Norne field.

“We are very pleased with the discovery,” says Gro G. Haatvedt, Statoil senior vice president for Exploration Norway.

“With last month’s announcement of the Smørbukk North discovery near Åsgard, this is the second discovery in the Norwegian Sea in three weeks. Timely near-field exploration provides valuable resources to Statoil and the discoveries show that there is still exciting potential in the Norwegian Sea.”

“We work continuously on increasing the recovery and extending the life of the Norne field. The Svale Nord discovery confirms the prospectivity and Statoil’s exploration success in the area. The discovery could lead to a further extension of the Norne field production life,” says Hans Jakob Hegge, senior vice president for the operations north cluster in Statoil.

Exploration well 6608/10-15 is situated in PL128 in the Norwegian Sea. Statoil is operator with an interest of 63.95455%. The partners are Petoro AS (24.54546%) and Eni Norge AS (11.5%).

Press Release, September 11, 2013

 

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