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Drilling Permit for Well 7324/2-1 in Production Licence 615

Source: www.gulfoilandgas.com 5/23/2014, Location: Europe

The Norwegian Petroleum Directorate (NPD) has granted Statoil Petroleum AS a drilling permit for well 7324/2-1 cf. Section 8 of the Resource Management Regulations. Well 7324/2-1 will be drilled from the Transocean Spitsbergen drilling facility at position 7351'47.90" north and 2432'29.90" east.

The drilling program for well 7324/2-1 relates to the drilling of a wildcat well in production licence 615. Statoil Petroleum AS is the operator with an ownership interest of 35 per cent. The other licensees are ConocoPhillips Scandinavia AS with 25 per cent, OMV (Norge) AS with 20 per cent and Petoro AS with 20 per cent. The area in this licence consists of parts of blocks 7324/1, 2, 3 and 7325/1.

Production licence 615 was awarded on 13 May 2011 in the 21st licensing round on the Norwegian shelf. This is the first well to be drilled in the licence.

The permit is contingent upon the operator securing all other permits and consents required by other authorities prior to commencing the drilling activity.

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