Well 7324/8-3 will be drilled from the Island Innovator drilling facility at position 73°26'4"N and 24°23'21.67"E.

The drilling program for well 7324/8-3 relates to the drilling of an appraisal well in production licence 537.

OMV (Norge) AS is the operator with an ownership interest of 25%. The other licensees are Statoil Petroleum (35%), Idemitsu Petroleum Norge AS (20%) and Petoro (20%).

The area in this licence consists of parts of block 7324/7 and block 7324/8. The well will be drilled on the Wisting discovery, approx. 260 km off the coast.

Production licence 537 was awarded on May 15, 2009 (20th licensing round on the Norwegian shelf). This is the sixth well to be drilled in the licence.

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