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Second Small Gas Discovery in the Barents

Source: www.gulfoilandgas.com 8/7/2017, Location: Europe

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 also proved oil.

The well was drilled in license PL 855. This is the first well drilled in the acreage awarded in Norway’s 23rd licensing round.

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

“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 continues.

Jez Averty, senior vice president, exploration Norway and UK “We have over time secured a significant portfolio in the Hoop-area and what we have learned from this well will be important when we plan to test some of that acreage in 2018,” Averty points out.

The discovery is in the Hoop area, approximately 30 kilometers northeast of the Wisting discovery.

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 announced on 3 July and the Bl?mann gas discovery announced on 17 July.

The well was drilled by the “Songa Enabler” semisubmersible drilling rig, which will now move to the Korpfjell prospect in license PL859 in the Barents Sea southeast.

Licensees in Gemini North (PL855):
• Statoil (operator) 55 %
• OMV 25 %
• Petoro 20 %
Licensees in Korpfjell (PL859)
• Statoil (operator) 30 %
• Chevron 20 %
• Petoro 20 %
• Lundin 15 %
• ConocoPhillips 15 %

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