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Statoil makes new oil find in North Sea

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Statoil makes new oil find in North Sea
Statoil's Gro Haatvedt comments on a previous find (File photo: Haral Pettersen/Statoil).
10:33 CEST+02:00
Norwegian energy giant Statoil has made a discovery in a North Sea prospect that it believes will yield 140 to 270 million barrels of oil equivalents.

Working with partners Petoro, Det norske oljeselskap and Lundin, Statoil said the find resulted from drilling on Utsira High in the Geitungen prospect in the North Sea.

"A new oil discovery in the Johan Sverdrup area, in the mature part of the North Sea reinforces Statoil's faith in the exploration potential of the Norwegian continental shelf, and demonstrates that we deliver on our strategy of revitalizing the NCS with high value barrels," said Gro Haatvedt, Statoil’s senior vice president for exploration in Norway, in a statement.

Statoil said the Ocean Vanguard drilling rig had uncovered the 35-metre oil column in a high quality reservoir dating from the Jurassic period.

"The Geitungen discovery will be included in the on-going development work for the Johan Sverdrup field. The discovery should therefore be seen in relation with the on-going appraisal programme in Johan Sverdrup to narrow down the volume range and uncertainty", said Øivind Reinersten, Statoil vice president for development of the Johan Sverdrup field.

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