StatoilHydro Spuds Volve South Well on Norwegian Continental Shelf

PA Resources

The Operator of PL046BS, StatoilHydro, has spudded the exploration well 15/9-F-15 S on the Volve South prospect from the combined drilling and production platform Maersk Inspirer at the Volve field on the Norwegian continental shelf.

The Volve South prospect is a down faulted structural closure in the Hugin Formation located approximately two kilometres south of Maersk Inspirer. The exploration well will be drilled as a deviated well, and the plan is to re-use the top hole section of the well for a Volve production well scheduled for next year. The planned total depth of the exploration well is approximately 3,100 meters. Results from the drilling are expected by year end.

"This is the first exploration well to be drilled as part of the ongoing drilling program in the Volve field and the surrounding area. The Volve South prospect is one of three possible prospects to be explored around the main Volve field with potential upside resources," said Ulrik Jansson, President and CEO at PA Resources.

PA Resources has a 10% working interest in the PL 046BS license. Operator is StatoilHydro (59.6%) and the other partner is ExxonMobil Exploration and Production Norway (30.4%).