Eni Norge Completes Exploration Well on the Goliat Discovery

Eni Norge AS, operator for production license 229, has concluded drilling of wildcat well 7122/7-5 on the Goliat West structure and the sidetrack 7122/7-5 A on the Goliat main structure.

The production license is situated approximately 50 km southeast of the Snohvit field and approx. 85 km northwest of Hammerfest. Wildcat well 7122/7-5 was drilled to a total depth of 2205 m below the sea surface. It was completed in rocks from the Early Triassic Age. The sidetrack 7122/7-5 A was drilled to a total depth of 1950 m below the sea surface and completed in Middle Triassic rocks.

Sidetrack 7122/7-5 A proved an oil column in the Kobbe formation from the Middle Triassic Age which is now being evaluated as part of the resource estimate for the Goliat discovery. The well was not production-tested, but extensive logging and core sampling were carried out. Additional drilling is planned on the production license in the autumn of 2007.

Wildcat well 7122/7-5 and the sidetrack 7122/7-5 A were drilled using the Transocean's semisub, Polar Pioneer, in water depths of 371 meters. The Polar Pioneer will now drill wildcat well 7125/4-1 on the Nucula prospect for Hydro in production license 393 in the Barents Sea.

The licensees in production license 229 are Eni Norge as operator with 65%; Statoil with 20% and DNO with 15%.

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