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Statoil strikes more oil in Krafla area of North Sea basin

Statoil is the operator of Sweden-Norway-based project

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Irene Rummelhoff, Statoil senior vice president, Foto: Statoil news

STOCKHOLM - Energy giant Statoil has struck more oil in the Krafla area in the mature Norwegian northern North Sea basin where it first found significant new recoverable resources in 2011

The latest appraisal well on the Krafla Main Tarbert discovery, and a discovery made at Krafla North in December "increase the robustness" of the Krafla field development project, Statoil announced Monday.

Statoil is the operator of PL035/PL272 with a 50 percent interest, while both Sweden-based Svenska Petroleum Exploration and Norway-based Det norske oljeselskap holds 25 percent stakes each.

Statoil has made five discoveries in the Krafla area since 2011 and expects total discovered recoverable resources to be in the range of 140 to 220 million barrels of oil equivalent.

"Since 2011 we have made five discoveries in the Krafla area which includes the licences PL035 and PL272: Krafla Main, Krafla West, Askja West, Askja East and Krafla North," says Irene Rummelhoff, Statoil senior vice president for exploration on the Norwegian continental shelf (NCS).

"Altogether we expect to have discovered recoverable resources in a range of 140-220 million barrels of oil equivalent just 25 kilometres southwest of Oseberg South and 150 kilometres west of Bergen. These are very substantial volumes for a mature area of the shelf," says Rummelhoff

Wildcat well 30/11-10 A was drilled in production license 035 to delineate the 30/11-8 S well discovery Statoil made in the summer of 2011.

Well 30/11-10 A encountered a total oil column of about 853 feet in the Tarbert formation, divided between the upper and middle Tarbert formation with columns of 360 and 492 feet.

The reservoir rocks in the upper and middle Tarbert formation consist of 98 and 180 feet of sandstone with "good reservoir quality."

The preliminary size of the discovery is calculated at between 8 and 13 million standard cubic meters of recoverable oil equivalents.

The discoveries in the Krafla area once again demonstrate that growth opportunities still exist in the North Sea.

According to Statoil, the licensees will consider developing the discovery along with other discoveries in the area.

"Statoil has a unique role as an area architect in the mature parts of the NCS with long experience in developing new discoveries by utilising existing infrastructure," says Knut Skjoldli, vice president field development west in Statoil.

Statoil has been putting a lot of effort into unlocking the full potential of the mature areas of the NCS, both through increased recovery initiatives in producing fields and targeted exploration programmes in surrounding areas.

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