NPD grants Statoil drilling permit for well 7324/2-1

5/23/2014

NPD grants Statoil drilling permit for well 7324/2-1

STAVANGER, Norway -- The Norwegian Petroleum Directorate (NPD) has granted Statoil Petroleum AS a drilling permit for well 7324/2-1. Well 7324/2-1 will be drilled from the Transocean Spitsbergen drilling facility at position 73°51'47.90" north and 24°32'29.90" east.

The drilling program for well 7324/2-1 relates to the drilling of a wildcat well in production license 615. Statoil Petroleum AS is the operator with an ownership interest of 35%. The other licensees are ConocoPhillips Scandinavia AS with 25%, OMV (Norge) AS with 20% and Petoro AS with 20%. The area in this license consists of parts of blocks 7324/1, 2, 3 and 7325/1.

Production license 615 was awarded on May 13, 2011, in the 21st licensing round on the Norwegian shelf. This is the first well to be drilled in the license.

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