Sweden's Lundin Petroleum has made a small oil discovery around 7 miles northwest of the Snøhvit field in the Barents Sea, according a statement issued by the Norwegian Petroleum Directorate Monday.
The NPD said that the wildcat well, designated 7120/6-3 S, was to prove petroleum in reservoir rocks from the Early Cretaceous and Late Jurassic ages. The well encountered oil in a gross column of approximately 29 feet in thick sandstone strata, which was itself situated above an approximately 80-foot sandstone sequence in the Kolmule formation.
Although preliminary estimates indicate the discovery is not profitable, evaluation and analyses will be performed to further clarify the resource potential of the discovery.
The well was drilled by the Transocean Arctic (mid-water semisub) drilling facility, which will now proceed to production license 475 in the Norwegian Sea where it will drill wildcat well 6407/1-6 S for Wintershall Norge.
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