Olga-1X Comes Up Dry for Maersk Oil

Maersk Oil has completed the exploration well Olga-1X (5505/21-4) south of the Kraka field in the North Sea. The well was drilled with the jackup Maersk Guardian.

Olga-1X was spudded January 29, 2003 in approximtely 46 meters of water. Olga-1X was drilled as a vertical well and reached total depth at 4695 meters below mean sea level in layers of Triassic age. The well encountered the expected Triassic sandstone reservoir. A production test failed to produce hydrocarbons. Olga-1X is being plugged and abandoned. The Maersk Guardian will subsequently be moved to the Skjold field.

Licence 5/99, granted to A.P. Møller and DONG in 1999, borders the A.P. Møller Sole Concession of 1962. The two groups of concessionaires have agreed that the Sole Concession contributes to the payment of the Olga-1X well costs.

The companies participate with the following economic interest in the two areas: Shell Olie- og Gasudvinding Danmark BV 36.8% & 46%; A.P.Møller 31.2% & 39%; Texaco Denmark Inc. 12.0% & 15% and DONG A/S 20.0%.