Statoil Encounters Oil in Geitungen

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Statoil Encounters Oil in Geitungen

Statoil has made an oil discovery on at the Geitungen prospect, reported Det norske, a partner in Production License 265. Oil was encountered and a core sample was recovered.

Drilling operations are ongoing and the final results from the well are not yet available, Det norske said in a statement.

The Ocean Vanguard (mid-water semisub) is drilling exploratory well 16/2-12 to a total depth of 6,759 feet (2,060 meters) to prove the presence of oil-bearing Jurassic sandstones similar to the Johan Sverdrup discovery.

Statoil operates the field with a 40 percent stake; while Lundin holds 10 percent; Petoro holds 30 percent; and Det norske holds the remaining 20 percent.

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