Jette Prospect Isn't Commercially Viable

Statoil has completed drilling of exploration well 6607/12-3 on the Jette prospect in license PL385 in the Norwegian Sea. The well, drilled by the West Alpha (mid-water semisub), has encountered gas but preliminary calculations indicate that the discovery is not commercial.

Noreco, a partner on the well, stated that additional evaluation and analysis is needed to further clarify the resource potential in the discovery.

Statoil operates the license with a 70 percent stake while Noreco holds the remaining interest.
 

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