Statoil hits oil in Barents Sea

OSLO, July 3, 2017 – Statoil said on Monday it had discovered oil in a well in the Barents Sea, as the Norwegian major and others continued to ramp up exploration in the area.

The find in the Kayak well near the Johan Castberg field, in a licence which Statoil holds together with partners Eni and Petoro, totals between 25 million and 50 million recoverable boe, the company added.

“We are very pleased to have made a good discovery in our first completed well in the Barents Sea this year,” Jez Averty, Statoil’s senior vice president for exploration in Norway and the UK, said in a statement, adding that the play was of a type that had not been explored before.

“Efforts will be made to find a commercial solution for the Kayak discovery towards the Johan Castberg licence, and to bring out other similar prospects in the Barents Sea.”

North Sea drilling

Also on Monday, Statoil announced that it had started production at the Gina Krog oil and gasfield in the North Sea offshore Norway, and said it would would start a three-well exploration campaign on the continental shelf of the UK, which is projected to be complete in about 2-3 months.

The news came also as the UK’s Zennor Petroleum said it had purchased 47.4% of licence area P359 in the North Sea from ExxonMobil. The area, operated by Dana Petroleum, is home to the Arran gas condensate discovery.

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