Statoil Completes Drilling of Well Near Visund Field

Statoil Petroleum AS, operator of production licence 120, has completed drilling of wildcat well 34/8-15 S. The well proved gas.

The well was drilled on the northeast flank of Visund in the northern part of the North Sea. The objective of the well was to prove petroleum in Middle Jurassic reservoir rocks (the Brent Group), as well as clarify possible reservoir communication with the Visund field.

The well encountered an approximately 50-metre gas column in the Brent Group in reservoir rocks with good reservoir quality. Data acquisition was carried out in the well, but the well was not formation tested.

Preliminary calculations of the size of the discovery are between 0.7 and 1.6 million Sm³ of recoverable oil equivalents that are planned to be tied in to existing infrastructure in the Visund area.

The well was drilled to a vertical depth of 3020 metres below the sea surface, and was terminated in the Drake formation in the Middle Jurassic. Water depth is 378 metres. The well was drilled by the COSL Pioneer drilling facility.

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Press Release, June 13, 2013