Statoil announces oil discovery in the North Sea

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Statoil announces oil discovery in the North Sea

Norway's Statoil has together with PL169 partners proved new oil resources in the D-structure in the vicinity of the Grane field in the North Sea located 185 km west of the city of Haugesund on the western coast of Norway.

Well 25/8-18 S, drilled by the rig Transocean Leader, proved an oil column of 25 metres in the Heimdal Formation. The estimated volume of the discovery is in the range of 30-80 million barrels of recoverable oil.

May-Liss Hauknes, Statoil vice president for exploration in the North Sea, stated:

"We are pleased with having proved new oil resources in the Grane area. Near-field exploration is an important part of Statoil’s exploration portfolio on the Norwegian continental shelf. It provides high-value barrels that are important for extending the production life of existing installations.”

The D-structure is located on the Utsira High, just seven kilometres north of the Grane field and in the immediate proximity of the Grane F oil discovery made by Statoil in 2013. The D-structure was originally penetrated in 1992 by well 25/8-4, which encountered just one metre of oil corresponding to about six million barrels.

Hauknes added:

“Well 25/8-18 S appraised the D-structure and proved substantial additional oil volumes in an excellent sandstone reservoir. This is a result of a recent re-evaluation of the area done by the partnership. New seismic and improved subsurface mapping have given us new confidence in the D-structure and allowed to mature it towards a drilling decision,”

According to Gro Aksnes, Statoil vice president for area development in Operations West.“Tie in to the nearby Grane field is one of the development solutions that will be evaluated for the discovery,”.

Exploration well 25/8-18 S is located in PL169 in the North Sea. Statoil is operator with an interest of 57%. The partners are Petoro AS (30%) and ExxonMobil Exploration & Production Norway AS (13%).

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