Statoil Finds up to 50M Barrels in the Barents Sea

Statoil Finds up to 50M Barrels in the Barents Sea

Norway's Statoil reported Monday that it has made an oil discovery estimated at between 20 and 50 million recoverable barrels at the Skavl prospect in Norwegian production license 532 in the Barents Sea.

Well 7220/7-2S, drilled close to the Johan Castberg discovery by the West Hercules (DW semisub) rig, has proven a 72-foot gas column and a 76-foot oil column in the Jurassic Tubåen formation, as well as a 436-foot oil column in the Triassic Fruholmen formation.

Statoil estimates the volumes in Skavl to be in the range of 20 - 50 million barrels of recoverable oil.

"Statoil puts a lot of effort into proving additional oil resources in the Johan Castberg area in order to make the field development project more robust. We are pleased to see that our efforts now pay off," Gro G. Haatvedt, Statoil's senior vice president for exploration on the Norwegian continental shelf, said.

"Skavl was the third of the four wells in the Johan Castberg area we have on our drilling plan this year. The first two wells, Nunatak and Iskrystall, proved only gas, but we know from experience that it takes stamina and persistence to succeed in the Barents Sea.

"It is also encouraging that we have confirmed a new play model in the area with the oil discovery in the Fruholmen formation, something which will be followed up in future exploration."

Statoil operates PL532 with a 50-percent stake. Partners Eni Norge and Petoro hold 30 percent and 20 percent respectively.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit www.riglogix.com.
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  How to Become a Safety Engineer (Sep 18)
 -  How to Become a Geologist (Sep 15)
 -  Oil, Gas Industry Leadership Group to ... (Sep 14)
 -  CB&I Wins China PDH Unit Contract (Sep 11)
 -  What Kind of Salary Potential Do Geote... (Sep 8)


Most Popular Articles

From the Career Center
Jobs that may interest you
Project QA-QC Supervisor/Engineer
Expertise: Drilling Consultant|Environmental, Safety & Training|HSE Auditing
Location: Minot, ND
 
Coordinator -Environmental/Regulatory
Expertise: Geoscientist
Location: Midland, TX
 
Core Analyst Trainee
Expertise: Geologist|Laboratory Ops / Tech
Location: Denver, CO
 
search for more jobs

Brent Crude Oil : $55.14/BBL 0.61%
Light Crude Oil : $49.48/BBL 0.86%
Natural Gas : $3.12/MMBtu 0.95%
Updated in last 24 hours