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Statoil drills well to size up Johan Sverdrup oil field

Statoil has begun drilling a new well to determine the size and quality of the Johan Sverdrup reservoir in the North Sea, Swedish oil company Lundin Petroleum said.

The 16/2-15 well is in the southern part of production license 265.The planned depth is about 2,000 meters below sea level. The drilling operation is expected to take about 50 days.The well will be drilled by the semi submersible rig Ocean Vanguard. The Johan Sverdrup field, proven in 2010, is believed to contain at least 1.8 billion barrels, according to the Norwegian Petroleum Directorate. Lundin is expected to release new estimates of its size in early 2013. Johan Sverdrup is spread between production licenses 501 and 265 on the Norwegian continental shelf.

Statoil said earlier in November that well 16/2-14, the company' s ninth well in production license 265, showed very good quality.Statoil is the operator of production license 265 with a 40% stake. Petoro holds 30%, Det norske oljeselskap 20% and Lundin 10%.

Dow Jones Newswires



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