Pingvin Well Finds Gas in Barents Sea

Junior explorer North Energy reported Friday that the 7319/12-1 exploration well, targeting the Pingvin prospect on Norwegian production license 713 in the Barents Seahas found gas in a sandstone reservoir.

North said that extensive data have been acquired from the well through coring, wireline logging and liquid sampling. The firm added that updated information from the well will be provided as soon as analysis of this data has been completed.

The partners in PL713 include operator Statoil with a 40-percent stake, RN Nordic (20 percent), Edison (20 percent) and North (20 percent).


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