Statoil Makes Discovery on Ellida Prospect

WEST NAVIGATOR
Oil has been struck by Statoil during the drilling of its Ellida wildcat in Norwegian Sea block 6405/7. The discovery was made in Cretaceous sandstones. Cores have been taken and logging carried out. "It's positive that we've found oil," says Kent Høgseth, Statoil's exploration manager for the deepwater areas of the Norwegian Sea. "But I must emphasize that it's far too early to say anything about whether this can be produced or possible recoverable reserves."

The well is being drilled by Smedvig's West Navigator drillship in 1,200 meters of water, and will now be continued to a total depth of 4,000 meters.

Statoil is operator for the production license in block 6405/7 with a 30 percent interest. The other licensees are BP with 20 percent, Petoro 20 percent, Norske Shell 20 percent and ConocoPhillips 10 percent.
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