Norsk Hits in Oseberg Area

As operator of the Oseberg Unit, Norsk Hydro has made a very interesting oil and gas find in exploration well 30/6-26. The discovery is the result of extensive exploration work in the Oseberg area in the Norwegian sector of the North Sea.

"Through the years, Hydro has conducted substantial exploration activities in areas with close proximity to existing infrastructure in the Oseberg region. The find we've made is a highly positive result of this work. We're presently drilling a new well in this area. When this is done, we'll continue evaluating new development possibilities in the area," says exploration manager Nils Telnæs.

Norsk Hydro and the license holders in the Oseberg area have drilled six exploration wells in this infrastructure area during the past five years - and have proven new oil and gas reserves amounting to 480 million barrels of oil equivalents. The latest find in well 30/6-26 and eventual new reserves from the current drilling of exploration well 30/6-27 will boost the likelihood of developing these resources.

This would make the third seafloor development west of the Oseberg field tied into platforms at the Oseberg field center. The two others are Oseberg West (Gamma Main structure), which also produces from the Statfjord formation, and the Tune field, which is under construction and set to start producing in fall 2002.