26/09/2014 Statoil Petroleum AS, operator of production licence 713, has concluded the drilling of wildcat well 7319/12-1.

The well was drilled 65 km northwest of the 7220/8-1 Johan Castberg oil and gas discovery in the Barents Sea and 300 km northwest of Hammerfest.

The objective of the well was to prove petroleum in Late Cretaceous reservoir rocks (sandstone in the Kveite formation).

The well encountered gas in reservoir rocks from the Early Palaeocene or Late Cretaceous Age (sandstone in the Torsk or Kveite formation) with good reservoir quality. The entire reservoir, including the water zone, is about 30 metres, and the gas column is about 15 metres.

Preliminary estimates place the size of the discovery at between 5 - 20 billion standard cubic metres (Sm3) of recoverable gas. The discovery will be subject to further evaluation.

The well was not formation-tested, but extensive data collection and sampling have been carried out.

This is the first exploration well in production licence 713.

The licence was awarded in the 22nd licensing round in 2013.

The well was drilled to a vertical depth of 1500 metres below the sea surface in Cretaceous rocks. Water depth at the site is 422 metres. The well has been permanently plugged and abandoned.

Well 7319/12-1 was drilled by the Transocean Spitsbergen drilling facility, which will now drill wildcat well 7220/2-1 in production licence 714 in the Barents Sea, where Statoil Petroleum AS is the operator.

Contact in the Norwegian Petroleum Directorate
Eldbjørg Vaage Melberg, tel. +47 51 87 61 00

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Updated: 26/09/2014