Det norske Strikes Again in Draupne

Norwegian Offshore Fields
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Det norske striked again with the Draupne discovery, and has ranked it as one of the largest discoveries on the Norwegian shelf in recent years. On April 22, 2010, Det norske announced that a production test performed on the discovery showed that future production wells could yield rates of about 12,000 bopd of good quality oil. A sidetrack well was then drilled, targeting a deeper part of the well, 16/1-11A. The oil-water contact was found in the sidetrack well, proving that the oil column is deeper than previously expected. The total oil and gas column is about 492 feet (150 meters), of which 295 feet (90 meters) is gas. A combined development of Draupne and two neighboring discoveries, Hanz and West Cable, holds total estimated recoverable volumes of about 110 to 150 million boe. Det norske estimates that first oil from the development can be achieved by 2014 with a plan of development filed by 2011. Situated on Block 16/1 in Production License 001B in the Norwegian North Sea is the Draupne field. Det norske serves as the operator, holding a 35% interest; Statoil holds 50%; and BayernGas holds the remaining 15%.

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Brent Crude Oil : $51.78/BBL 0.77%
Light Crude Oil : $50.85/BBL 0.83%
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