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Statoil Finds Gas & Oil Discoveries in the Askja Prospects

Source: www.gulfoilandgas.com 1/2/2014, Location: Europe

Operator Statoil has together with PL272 partners made a gas discovery in the Askja West prospect and an oil discovery in the Askja East prospect in the North Sea.

The exploration wells 30/11-9 S and 30/11-9 A, drilled by the drilling rig Ocean Vanguard, are located between the Oseberg and Frigg fields and about 13 km southeast of the Statoil-operated Krafla/Krafla West discoveries.

Main wellbore 30/11-9 S tested the Askja West prospect and proved a net gas column of 90 metres in Late and Middle Jurassic rocks. Side-track 30/11-9 A tested the Askja East prospect and proved a net oil column of 40 metres in the same geological formations. The reservoir properties were as expected in both wells.

Statoil estimates the total volumes in Askja West and Askja East to be in the range of 19 - 44 million barrels of recoverable oil equivalent (o.e.).

"We are pleased to start 2014 with a gas and oil find in the Askja West and East prospects, in the very heart of the North Sea. This demonstrates once again that even the most mature parts of the NCS still have an exciting value creation potential," says May-Liss Hauknes, vice president exploration North Sea in Statoil.

"The North Sea is a highly prolific petroleum basin that has delivered new discoveries consistently for over four decades. We are convinced that there are still attractive opportunities both in near-field exploration and in more material growth plays," says Hauknes.

"Askja will be considered developed together with the Krafla and Krafla West discoveries made by Statoil in 2011," says Knut Skjoldli, vice president field development in Statoil.

Exploration wells 30/11-9 S and 30/11-9 A are situated in PL272 in the North Sea. Statoil is operator with an interest of 50%. The partners are Svenska Petroleum Exploration AS (25%) and Det norske oljeselskap ASA (25%).

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