Noatun Recoverable Reserves Grow, StatoilHydro Ponders Possible Tie-Back

Norwegian Petroleum Directorate

StatoilHydro Petroleum AS, operator of production license 107, has concluded the drilling of appraisal well 6407/7-8 A on the gas/condensate discovery 6407/7-8. The appraisal well was drilled as a sidetrack to the discovery well 6407/7-8, and is located about 16 kilometers north of the Njord field in the Norwegian Sea.

The purpose of well 6407/7-8 A was to confirm the gas-water contact and the size of the discovery, which has reservoir rocks in the Middle to Lower Jurassic. The discovery was proven in September 2008 in a prospect called Noatun.

Data has been collected in the well to confirm the size of the discovery. The preliminary estimate for proven recoverable resources is from 5-8 million Sm3 oil equivalents. The gas-water contact was not encountered in the well. Consideration will be given to developing the discovery with tie-in to the Njord field.

This is the 12th exploration well in production license 107, which was awarded in the 9th licensing round in 1985.

The well was drilled to a vertical depth of 5050 meters below the sea surface, and was concluded in the Are formation in the Lower Jurassic.

Water depth at the site is 293 meters. The well will be permanently plugged and abandoned.

The well was drilled using the semisubmersible drilling facility West Alpha, which will now drill wildcat well 30/11-7 in production license 035, where StatoilHydro Petroleum AS is operator.