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Statoil Spuds Cliffhanger North

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Statoil has commenced exploratory drilling on well 16/2-18S in Production License 265 in the North Sea. The well, located on the Cliffhanger North prospect, is west of the Johan Sverdrup discovery and north of the previously tested Cliffhanger South prospect.

The objective of the Cliffhanger North prospect is to test the presence of the Jurassic reservoir and the quality of fractured and weathered basement, reported the operator. The prospect is also appraising the northeastern portion of the Johan Sverdrup discovery.

Drilling should take about 40 days and is being performed by the Ocean Vanguard (mid-water semisub). The planned total depth of the well is 6,463 feet (1,970 meters).

Cliffhanger South, which was drilled last month, failed to encounter hydrocarbons. The well was classified as a dry hole.

Det Norske, partner on the field, estimates that the play to the west of the fault margin on Sverdrup, including Cliffhanger, could potentially hold up to 500 million barrels of oil equivalent.

Statoil Petroleum operates PL265 with a 40 percent interest; while partners include Petoro (30%), Det norske oljeselskap (20%), and Lundin Norway (10%).

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