Statoil Makes Oil Discovery near North Sea's Grane Field

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Statoil Makes Oil Discovery near North Sea's Grane Field

Statoil reported Tuesday that it has made a new oil discovery of up to 33 million barrels near its Grane field in the North Sea.

Statoil said that its partners in exploration well 25/11-27 are now in the process of concluding drilling operations, after the Songa Trym (DW semisub) rig proved an oil column of some 65 feet in the Heimdal Formation. The estimated volume of the discovery is in the range of 18 to 33 million barrels of recoverable oil.

"We are pleased with having proven new very high value resources in the Grane area," Tore Løseth, Statoil's vice president for exploration in the North Sea, said.

"The oil discovery is located directly north of the Grane field and can be developed effectively."

Exploration well 25/11-27 is situated in the Grane Unit in the North Sea. Statoil is operator with an interest of 36.66 percent. The partners are Petoro (28.94 percent), ExxonMobil Exploration & Production Norway (28.22 percent) and ConocoPhillips Skandinavia (6.17 percent).

 



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