Statoil Makes Discovery Near Siri Field Offshore Denmark

The discovery, Stine segment II, is located approximately five miles east of Siri Field. The well was drilled to prove oil reserves for production using the Siri platform. Production from the platform is currently 30,000 barrels of oil per day but is capable of producing 50,000 barrels per day. Noble Drilling's, jackup, Noble George Sauvageau completed the drilling in less than two weeks, including coring and logging. The well was drilled to 6,860 feet and encountered oil in Palaeocene sandstone. The rig is now drilling a horizontal production well at the Siri platform. Production from this new discovery is expected to commence in September of this year.

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