StatoilHydro Confirms Fulla Discovery with Successful Appraisal

StatoilHydro has confirmed the Fulla discovery announced in February 2009 with a successful sidetrack appraisal well. Situated in 364 feet (111 meters) of water on Production License 362/035B, the second Fulla well, 30/11-7A, is located 6 miles (10 kilometers) northeast of the Frigg field in the central Norwegian North Sea.

Drilled by the Transocean Leader semisub, the sidetrack well reached a vertical depth of 13,510 feet (4,118 meters) into the Etive formation of the Brent group. Encountering gas in reservoir rocks belonging to the Brent group, Tarbert formation, the well was not tested, but extensive data collection and sampling were performed.

Drilled by the West Alpha semisub, the original Fulla discovery was estimated by the Norwegian Petroleum Directorate as holding 6 to 18 MMboe of gas and condensate. Encountering hydrocarbons in the lower Brent group, the discovery well, 30/11-7, was drilled to a vertical depth of 13,343 feet (4,067 meters) in 364 feet (111 meters) of water.

With proven reserves for the two wells now estimated between 60 and 105 MMboe, the Fulla gas and condensate field will likely be deemed commercial. With anticipation of bringing the field on-stream quickly, development options include tying the Fulla field back to existing infrastructure.

StatoilHydro serves as the operator of the production license with 50% interest; partners include Svenska Petroleum with 25%, Det norske oljeselskap with 15% and Dana Petroleum with the remaining 10% interest.

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