Statoil Strikes Oil in North Sea

Statoil made an oil and gas discovery in the Brynhild prospect where one exploration well was drilled with a technical sidetrack. The well struck oil in an 59-foot (18-meter) column of good reservoir quality in the Draupne formation. The well also encountered a gas and oil column totaling 115 feet (35 meters) of variable reservoir quality in the Hugin formation. It is estimated Brynhild holds between 3 and 19 million barrels of oil equivalent. Statoil plans to assess the discovery and the option of tying the find back to the Gudrun field. The wells were drilled by the Transocean Leader semisub, which will now drill a shallow well to explore the bedrock condition of the Gudrun field. The discovery is located about 3 kilometers east of the Gudrun field in the North Sea in PL 187. Statoil serves as the operator, holding a 65% interest; GDF Suez E&P Norge holds 25%; and Marathon Petroleum Norge holds 10%.

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