Hydro Makes Promising Oil Find at Fram

The exploratory well 35/11-13 was drilled to a total depth of 3266 meters with Odfjell's Deepsea Trym. The well is located approximately 120 kilometers west of Floro in 361 meters of water.

"We have found oil and some gas in rocks dating from the late Jura period and consider the find to be promising and commercially interesting. This find will make further exploration activities in the Fram area more interesting," says Lars Christian Alsvik, Director of Development Norway.

The drilling of the Astero prospect began on March 18, and the total drilling depth was reached at the end of April. Since then Deepsea Trym has been used for production testing of the find. During testing a production rate of 3,150 barrels per day was achieved.

Alsvik emphasizes that a final decision has not been made to develop the Astero find.

"We will evaluate development solutions in connection with the Fram field and the Troll C platform. At the moment we can't go into detail about how large the recoverable reserves are in this instance, but the size is significant enough that we are also considering other development solutions," he says.

Partners on the Fram Field are Norsk Hydro as operator with 25%; ExxonMobil with 25%; Statoil with 20%; Idemitsu with 15% and Gaz de France with 15%.

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