Statoil Strikes Oil and Gas North of Norne

Ocean Vanguard
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Statoil discovered oil and gas in the 6608/10-14 S well on the Fossekall prospect in PL 128. Drilled by Diamond Offshore's Ocean Vanguard semisub, the well reached a total vertical depth of 9,019 feet (2,749 meters), ending in the Are formation in the lower Jurassic. The proved recoverable resources are provisionally estimated at 37 and 63 MMbbl, and associated and free gas is estimated at 1 to 3 billion standard cubic meters. Statoil and partners are considering tying the discovery back to existing Norne infrastructures. Oil production from Norne is processed and stored aboard a floating production vessel, with gas output piped to the Norwegian mainland via the Norne and Asgard pipelines. The Fossekall prospect lies in 1,155 feet (352 meters) of water in the Norwegian sector of the North Sea, which is operated by Statoil, holding a 63.95% interest.

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Brent Crude Oil : $50.79/BBL 1.30%
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