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Statoil Receives Exploration Consent from PSA

Source: www.gulfoilandgas.com 10/29/2010, Location: Europe

Statoil has received consent to carry out exploration drilling in the North Sea with the mobile facility Transocean Leader.

Exploration well 15/6-12 is part of production licence 303 in the southern part of the North Sea. The well is located about 230 kilometres west of Egersund, and about 12 kilometres south of the Glitne field.

The facility's planned position during drilling will be:

N 58į 37' 48.53", E 1į 44' 15.47".

The water depth at the site is approx. 115 metres.

According to the application for consent, drilling will start at the end of November. The activity is estimated to last 81 days.

Transocean Leader is a semi-submersible mobile drilling facility owned and operated by Transocean Offshore Ltd. It was delivered from Hyundai Heavy Industries in Korea in 1987.

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