• 3 minutes Nucelar Deal Is Dead? Iran Distances Itself Further From ND, Alarming Russia And France
  • 5 minutes Don Jr. Tweets name Ukraine Whistleblower, Eric Ciaramella. Worked for CIA during Obama Administration, Hold over to Trump National Security Counsel under Gen McCallister, more . . . .
  • 9 minutes Shale pioneer Chesepeak will file bankruptcy soon. FINALLY ! The consolidation begins
  • 12 minutes China's Blueprint For Global Power
  • 1 min Pioneer's Sheffield in Doghouse. Oil upset his bragging about Shale hurt prices. Now on campaign to lower expectations, prop up price.
  • 1 hour Tesla Launches Faster Third Generation Supercharger
  • 14 mins Passerby doused with flammable liquid and set on fire by peaceful protesters
  • 8 hours Who writes this stuff? "Crude Prices Swing Between Gains, Losses"
  • 10 hours EU has already lost the Trump vs. EU Trade War
  • 12 hours Joe Biden, his son Hunter Biden, Ukraine Oil & Gas exploration company Burisma, and 2020 U.S. election shenanigans
  • 13 hours Atty General Barr likely subpeona so called whistleblower and "leaker" Eric Ciaramella
  • 8 hours China's Renewables Boom Hits the Wall
  • 6 hours Climate Change Consensus Shifts in Wind, But Gas Is Still the Right Move
  • 16 hours Iran's Master Plan?
  • 15 hours Iran Finds New Oil Field With Over 50 Billion Barrels: Rouhani
  • 11 hours Does .001 of Atmosphere Control Earth's Climate?!

Breaking News:

Oil Rebounds On Surprise Crude Draw

Charles Kennedy

Charles Kennedy

Charles is a writer for Oilprice.com

More Info

Premium Content

Statoil Strikes Again in North Sea

Norway’s Statoil has announced two oil and gas discoveries in the Norwegian part of the North Sea, highlighting the potential for more discoveries in an area already thought to be mature.

Statoil and its partners have discovered a new gas deposit in the Askja West prospect and a new oil deposit in the Askja East prospect in the North Sea, with total volumes from both discoveries estimated to be in the range of 19 - 44 million barrels of recoverable oil equivalent.

"The North Sea is a highly prolific petroleum basin that has delivered new discoveries consistently for over four decades. We are convinced that there are still attractive opportunities both in near-field exploration and in more material growth plays," May-Liss Hauknes, vice president exploration North Sea in Statoil said in a press release.

According to a note released by the Norwegian Petroleum Directorate, two wells in the projects were drilled to respective vertical depths of 3,637 and 3,646 meters below the sea surface.

Statoil is the operator of the wells, with a 50% interest, while partners Svenska Petroleum Exploration AS and Det norske oljeselskap hold 25% each.

The wells are the second and third exploration wells in the Askja production license awarded in 2001. Both wells were drilled by Ocean Vanguard and located between the Oseberg and Frigg fields, about 13 kilometers southeast of the Statoil-operated Krafla/Krafla West finds made three years ago.

In November, Statoil announced an oil discovery in the Snilehord prospect of the Norwegian Sea. It estimated the prospect holds as much as 100 million barrels of recoverable oil and was the company’s third discovery in the region in as many months.

Also last year, the company announced plans to invest $7 billion in a North Sea Mariner oil field, bringing hundreds of jobs to the north east of Scotland. At the time, Statoil said this investment would represent the largest new offshore development in the UK in more than a decade.

Statoil expects to start production from Mariner in 2017, which should be around 55,000 barrels of oil per day until 2020.

By. Charles Kennedy of Oilprice.com




Download The Free Oilprice App Today

Back to homepage



Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play