Statoil to Use Ocean Vanguard in PL 265 (Norway)

The Norwegian Petroleum Directorate has granted Statoil Petroleum AS a drilling permit for well 16/2-19, in the Norwegian part of the North Sea.

Well 16/2-19 will be drilled from the Ocean Vanguard rig at position 58°54’12.3” north and 2°29’37.8” east in production licence 265 in the central part of the North Sea.

The drilling programme for well 16/2-19 relates to drilling of an appraisal well in production licence 265. Statoil Petroleum AS is the operator with an ownership interest of 40 per cent. The other licensees are Petoro AS with 30 per cent, Det norske oljeselskap ASA with 20 per cent and Lundin Norway AS with 10 per cent.

The area in this licence consists of part of block 16/2. The well will be drilled about 2.1 kilometres north to northeast of the 16/2-12 well in the Geitungen segment on Johan Sverdrup.

Production licence 265 was awarded on 24 April 2001 (NSA 2000). This is the 14th exploration well to be drilled within the licence area and the 10th exploration well on or near the 16/2-6 Johan Sverdrup oil discovery in permit 265.

The permit is contingent upon the operator securing all other permits and consents required by other authorities prior to starting drilling activities.

January 22, 2014

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