Statoil Petroleum awarded drilling permit for well 16/2-19 in production licence 265

1/22/2014

Statoil Petroleum awarded drilling permit for well 16/2-19 in production licence 265

STAVANGER -- The Norwegian Petroleum Directorate has granted Statoil a drilling permit for well 16/2-19, cf. Section 8 of the Resource Management Regulations.

Well 16/2-19 will be drilled from the Ocean Vanguard drilling facility 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 is the operator with an ownership interest of 40%. The other licensees are Petoro with 30%, Det norske oljeselskap with 20% and Lundin Norway with 10%.

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

Production licence 265 was awarded in 2001. 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.

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

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