Statoil, Partners Hit Significant Oil Pay in North Sea

Statoil and partners have made an oil discovery on the Aldous Major South prospect in the Norwegian sector of the North Sea.

Drilled by the Transocean Leader semisub, the well 16/2-8 found a 213-foot (65-meter) oil column in Jurassic sandstones. Statoil said the acquired data has confirmed that this is a reservoir of excellent quality. Preliminary volumes are estimated at between 200 and 400 million barrels of oil equivalent for this part of the structure in PL 265, and the operator expects additional upside in the license both north and south of the discovery. Well 16/2-8 indicates the same oil-water contact as in the Avaldsnes discovery well, suggesting the likelihood of communication between the two structures.

Statoil will update its total resource estimate for the area when the wells are completed and the data analyzed. Aldous Major South is located west of the Avaldsnes discovery, where Statoil has a 40% stake, and some 35 kilometers south of the Statoil-operated Grane field. Statoil operates License PL 265 with a 40% interest; Petoro holds 30%; Det norske holds 20%; and Lundin holds 10%. 

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