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2014-03-20 08:04:00

STATOIL FINDS GAS

STATOIL  FINDS  GAS

RZ. Norway's Statoil has discovered gas near the Visund field in the North Sea, the Norwegian Petroleum Directorate reported Wednesday. The discovery is estimated to amount to between 3.2 million and 12.6 million barrels of recoverable oil equivalent. The NPD said that wildcat well 34/8/17-S – located on the northeast flank of the Visund field on production license 120 in the northern part of the North Sea – was drilled to prove petroleum in Lower Jurassic reservoir rocks (the Statfjord group). A secondary exploration target was to prove petroleum in Lower Jurassic (the Lower Statfjord group) and Upper Triassic reservoir rocks (the Lunde formation). The well encountered a gross gas column of approximately 102 feet in the Tarbert, Ness and Etive formations in the Middle Jurassic – with around 65 feet being in sandstones of very good reservoir quality, the NPD said. In the immediately underlying reservoir rocks in the Rannoch formation in the Middle Jurassic, the well encountered an approximate 69-foot petroleum column in sandstones with poor reservoir quality. Traces of petroleum were also encountered in Lower Jurassic sandstones of variable reservoir quality in the Cook formation and in the Statfjord Group. The NPD added that it is unclear whether there is oil or gas in the Rannoch and Cook formations, and in the Statfjord group. Meanwhile, the Lunde formation was found to be aquiferous. 

Tags: STATOIL, GAS, NORWAY

Chronicle:

STATOIL  FINDS  GAS
November, 24, 09:15:00

SAUDI'S OIL FOR CHINA

BLOOMBERG - As Saudi Arabia led OPEC’s output cuts this year to shrink a global glut, it’s lost out on market share in the world’s biggest energy consumer. Russia in September retained the top Chinese supplier spot for the seventh straight month, while the kingdom was third.

STATOIL  FINDS  GAS
November, 24, 09:10:00

URALS QUALITY WILL DOWN

PLATTS - The quality of Russia's key Urals crude exports towards Europe will continue to fall next year as more of the country's low-sulfur oil flows are diverted eastward to China, Russian national oil pipeline operator Transneft warned.

STATOIL  FINDS  GAS
November, 24, 09:05:00

S.KOREA'S SOLAR UP

FT - OCI — the world’s third-largest polysilicon maker by capacity and South Korea’s biggest — this month reported a 3,373 per cent increase in operating profit to Won78.7bn ($72m) for the July-September quarter, its best performance in five years. Rival Hanwha Chemical saw third-quarter net profit jump 25 per cent to a record Won252bn. 

STATOIL  FINDS  GAS
November, 24, 09:00:00

U.S. RIGS UP 8 TO 923

U.S. Rig Count is up 330 rigs from last year's count of 593, with oil rigs up 273, gas rigs up 58, and miscellaneous rigs down 1 to 0. Canada Rig Count is up 41 rigs from last year's count of 174, with oil rigs up 13, gas rigs up 30, and miscellaneous rigs down 2 to 2.

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