Statoil Gets Green Light to Drill N. Sea Block 15/8

Petroleum Safety Authority Norway granted permission to Statoil to conduct exploratory drilling in the central part of the North Sea using the COSLPioneer semisub.

The consent relates to the drilling of exploratory well 15/8-2 in Production License 303 and perhaps a sidetrack well. Drilling should commence in late July/early August 2011 and take about 79 to 124 days, depending on potential discoveries. The water depth of the site is 390 feet (119 meters). 

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