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2014-04-13 18:08:00

STATOIL MAKES OIL

STATOIL MAKES OIL

Statoil ASA, together with its Valemon unit partners, made an oil and natural gas discovery in the Valemon North prospect in the North Sea, just 10 km north of the companies' planned Valemon installation (OGJ Online, June 19, 2012).

The discovery wells, 34/10-54 S and 34/10-54 A, were drilled by Transocean Inc.'s Transocean Leader semisubmersible drilling rig.

The main wellbore, 34/10-54 S, proved a gross 164-m gas-condensate and oil column in the Middle Jurassic Brent group. The sidetrack, 34/10-54 A, proved a gross 100-m gas-condensate column in the Brent Group and in sand of unspecified Jurassic age, and an additional gross 140-m gas-condensate column in the Statfjord Group. Gas-condensate also was found in the middle Jurassic Cook formation, Statoil reported.

Statoil estimates the total volumes in Valemon North to be 20-75 million bbl of recoverable oil equivalent.

"We are very satisfied with making a new discovery in the close proximity of the Valemon gas and condensate field currently under development," said Irene Rummelhoff, senior vice-president, exploration, Norway.

Valemon field, discovered in 1985, is one of Statoil's largest ongoing development projects on the Norwegian Continental Shelf. Recoverable reserves from the field are estimated at 206 million boe.

The development concept is a fixed platform, with rich gas export to Heimdal and condensate export to Kvitebjorn. Production start-up is expected in this year's fourth quarter.

OGJ.COM

Tags: STATOIL, OIL.GAS

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