Statoil Makes Gas/Condensate Discovery North of Åsgard

Norway's Statoil reported Monday that it has made a gas/condensate discovery in the Smørbukk North prospect at Haltenbanken in the Norwegian Sea.

Statoil said exploration well 6506/9-3 on production license PL479 was drilled by the Transocean Leader (DW semisub) rig and proved a 130-foot gas/condensate column in the Gam formation of mid-Jurassic age. In addition, a thin gas/condensate column was proven deeper in the mid-Jurassic Ile formation.

Statoil described the reservoir properties of the Gam formation as "good".

The preliminary estimated volume of the discovery is in the range of 25 to 47 million barrels of oil equivalent.

"We are very pleased with having proven the new resources," Gro G. Haatvedt, senior vice president for Norwegian exploration at Statoil, commented in a company statement.

"The three discoveries comprising the Åsgard field were all made in the 1980s. Making a new discovery in the area 30 years later is encouraging and proves the exciting remaining potential on the NCS."


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