Statoil announces new oil discovery near Norne field

9/11/2013

Statoil announces new oil discovery near Norne field

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

Exploration well 6608/10-15, drilled by the Songa Trym drilling rig, has proven a 45 m oil column in the Åre formation and a 45 m 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 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%).

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