ExxonMobil Makes Another Discovery Near Ringhorne

ExxonMobil has recently completed drilling wildcat well 25/8-14 S which has proved additional resources near the Ringhorne discovery in the Norwegian sector of the North Sea. The well was drilled about 2 kilometers east of the Ringhorne discovery using Odfjell's semisub, Deepsea Trym. Water depths in the area are 128 meters and the well was drilled to a depth of 2,120 meters below sea level.

Oil was proven in rocks from the Jurassic Age, more specifically attributed to the Statfjord formation. The discovery is particularly encouraging since it is this year's second oil discovery near the Ringhorne discovery.

This is a smaller oil deposit, but its proximity to existing infrastructure makes it likely that the resources can be recovered as additional resources to the Balder field.

The Deepsea Trym will now be laid up at the CCB base near Bergen.