Statoil Primes Barents Sea Bit

Statoil has received consent to carry out exploration drilling in the Barents Sea with the Transocean Barents (UDW semisub) drilling rig.

The consent relates to the drilling of exploration well 7220/7-1 which is part of production license 532. The well is located approx. 200 km from the closest point on land, which is Ingøya in Finnmark.

The well has the following geographical coordinates: N 72° 27' 37.91", E 20° 09' 08.69". Water depth at the site is approx. 367 meters.

Drilling is scheduled to start in the first half of December 2011. The activity has an expected duration of approx. 57 days.


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