Statoil Makes North Sea Oil, Gas Discovery

Statoil Petroleum AS has made an oil and gas discovery in the North Sea through well 34/10-55 S, the Norwegian petroleum Directorate revealed Friday.

The well, which was drilled from the Gullfaks C platform to a structure east of the Gimle field, encountered a total oil and gas column of about 557 feet, of which 196 feet are in sandstone with good to very good reservoir properties and 32 feet are in sandstone with moderate to good properties.

Preliminary calculations indicate that the discovery contains between 1 and 3 million standard cubic metres of recoverable oil equivalents. The discovery will be produced from a subsequent development well from the Gullfaks C platform.

Well 34/10-55 S was drilled to a vertical and measured depth of 10,590 and 25,626 feet, respectively, below the sea surface, and was terminated in the Lunde formation in the Triassic.


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