Statoil makes small gas find in Barents Sea

Norwegian energy company and LNG operator Statoil and partners OMV and Petoro have made a small gas discovery in the Gemini North well, northeast of the Wisting discovery in the Barents Sea.

The well, drilled in license PL 855, also proved oil. This is the first well drilled in the acreage awarded in Norway’s 23rd licensing round, Statoil said on Monday.

Recoverable volumes are estimated at 0.4-1 billion standard cubic meters (BCM), approximately 2-6 million barrels of oil equivalent (BOE). In addition, there was proved oil, amounting to approximately 0,5-2 million barrels of recoverable oil.

This is the third discovery in Statoil’s 2017 Barents Sea exploration campaign, following the Kayak oil discovery and the Blåmann gas discovery announced in July.

“The well was drilled with the ambition of proving up additional oil resources in the vicinity of the Wisting discovery, but like the previous Blåmann well, we discovered gas,” says Jez Averty, senior vice president for exploration in Norway and the UK. “While this

“While this well proved a non-commercial gas discovery, the results provide grounds for cautious optimism for additional potential both within this license and the Hoop Area” Averty added.

Statoil is the operator in Gemini North (PL855) with a 55 percent stake, OMV holds a 25 percent stake while Petoro owns 20 percent in the license.

 

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Posted on August 7, 2017 with tags .

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