Statoil, Eni Report Barents Sea Oil and Gas Discovery
Norway’s Statoil, Eni Norge and Petoro made an oil and gas discovery in the Barents Sea, with a 22-metre gas column and a 23-metre oil column in the Jurassic Tubåen formation, and a 133-metre oil column in the Triassic Fruholmen formation.
The well, which is located in the Skavl prospect in the PL532 license, has been drilled five kilometres south of the Johan Castberg area. It was drilled in approximately 349 metres of water and reached a target depth of 1,700 metres.
According to the Norwegian Petroleum Directorate, the exploration confirmed the ‘good reservoir quality.’ Preliminary estimates indicate that the discovery is between three and eight million standard cubic metres (Sm3) of recoverable oil equivalents.
"Skavl was the third of the four wells in the Johan Castberg area we have on our drilling plan this year. The first two wells, Nunatak and Iskrystall, proved only gas, but we know from experience that it takes stamina and persistence to succeed in the Barents Sea," Gro G. Haatvedt, Statoil's senior vice president for exploration on the Norwegian continental shelf, said the Norwegian company in a note released on Monday.
This is the fifth exploration well in production licence 532. The licence was awarded in the 20th licensing round in 2009. Statoil owns 50% stake of the production license PL532. Eni Norge and Petoro control 30% and 20%, respectively.
According to a note released by Italy’s Eni, the company is operator of the ongoing development of the first oil field in the Barents Sea, the Goliat discovery, and of the Marulk gas field in the Norwegian Sea.