7/03/08

Statoil finds gas and oil in Barents Sea

Hydrocarbons have been proven in the Obesum prospect in the Barents Sea. StatoilHydro is the operator and has 100 percent interest in this licence. This is the fourth find on StatoilHydro-operated licenses on the Norwegian continental shelf in 2008, and the fifth so far this year.The drilling in production licence 228 in the Barents Sea is completed. Hydrocarbons were proven in sandstone from the Triassic Age, and extensive data acquisition has been conducted.The results from the well show that the reservoir contains both oil and gas. It is too early to estimate the size of the finds and further data processing is required. ”The finds confirm our expectations that additional reserves can be found in this area, and we plan to drill another well in this licence in 2008,” says Tim Dodson, head of exploration on the Norwegian continental shelf. This was the first well in production licence 228, which was awarded in the Barents Sea licensing round in 1997. The well was drilled to a total depth of 2825 metres below sea level, and was completed in Triassic rocks. The well will now be permanently plugged and abandoned. Well 7222/6-1S was drilled by the Polar Pioneer drilling rig in 364 metres of water. The next project for the Polar Pioneer is an appraisal well for PL110C on the Tornerose discovery. StatoilHydro has previously reported discoveries south-west of the Grane field and in the Fram area of the North Sea, and Gamma at Haltenbanken. Additionally, a discovery was made at Marulk on Haltenbanken where ENI Norway is the operator and StatoilHydro has a 50 percent ownership stake. StatoilHydro is the operator and has 100 percent interest in licence 228.