StatoilHydro's Appraisal Well Hits Oil

StatoilHydro has concluded appraisal drilling of well 16/2-4. The well lies 35 kilometers east of the Gudrun field and 30 kilometers south of the Grane field. Ragnarrock 2 is the third exploration well in production license PL265. The license was awarded during the North Sea licensing round in 2000. It was drilled to a total depth of 1,952 meters. Sea depth is 113 meters. In mid September 2007, StatoilHydro proved light oil with well 16/2-3 in low-permeability chalk in the Upper Cretaceous reservoir rocks.

The exploration goal for well 16/2-4 (Ragnarrock 2) was to delineate oil discovery 16/2-3, and the well hit light oil. The appraisal well shows that the size of the discovery is likely to be in the range 5 - 10 million Sm3 recoverable oil. A series of small-scale formation tests were carried out, showing promising flow properties. Smaller amounts of gas were also found in the bedrock. Small-scale formation tests showed limited flow properties in the bedrock. The well was not tested for production, but extensive data collection and sampling were carried out. One more horizontal test well is needed before the discovery may be considered for development.

This is the third exploration well in Production License 265. The license was awarded in 2001 in connection with the North Sea awards 2000. The well was drilled to a vertical depth of 1952 meters below sea level and was concluded in bedrock. The sea depth is 113 meters. The well will now be permanently plugged and abandoned.

Well 16/2-4 was drilled with the jackup West Epsilon, which will now be going to a shipyard before drilling the next well, 30/2-4 S on the Huldra field in the North Sea.

Licensees in Production License 265 are StatoilHydro as operator with 30%; Petoro with 30%; Det Norske Oljeselskap with 30% and Talisman Energy Norge with the remaining 10%.

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