Krafla West Delivers for Statoil

Statoil and its partners have discovered oil and condensate in the Krafla West prospect, in the Norwegian sector of the North Sea.

Drilled by the Ocean Vanguard semisub, the discovery well found hydrocarbons in two columns with a total thickness of 98 feet (30 meters). Preliminary calculations indicate that the find contains around 12.6 to 37.7 MMboe of recoverable barrels. Statoil said that through Krafla and Krafla West discoveries, more than 50 to 75 MMboe was proven, providing the basis for a robust fast-track project.

The vessel will now proceed to Production License 569 to drill the Theta Northeast prospect. The discovery is covered by Production Licenses 035 and 272, which is operated by Statoil. Partners on the license include Det norske (25%) and Svenska Petroleum (25%). 

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