Statoil makes gas discovery in Norway

Exploration and production company Statoil and its partners have made a discovery in the Roald Rygg prospect in the Norwegian Sea, the company announced on Monday.

The Norwegian company said it had proven a 38-metre gas column with a high reservoir quality. It estimates the recoverable volumes in the Roald Rygg prospect to total 12 million-44 million barrels of oil equivalent.

Exploration well 6706/12-3 was drilled by the Transocean Spitsbergen semi-submersible rig, owned by international drilling contractor Transocean.

The find was the second in a two-well exploration programme the company has conducted in the Aasta Hansteen region in 2015. In March the company had announced the discovery of a 105-metre gas column in the offshore Snefrid Nord prospect.

The Roald Rygg prospect is located in block PL602. Statoil said it increased its equity share in the block earlier in 2015. Once the deal is approved by the government, Statoil will hold a 42.5-percent operating stake in PL602 joint venture, while Norway’s state-owned Petoro will control 20 percent, Norwegian company Wintershall Norge will control 10 percent and independent international exploration and production company Atlantic Petroleum will control 7.5 percent.