Goliat well finds deep oil column

Eni reviewing its thinking on Goliat field in Barents Sea following latest well results

Offshore staff

OSLO, Norway -- Eni Norge has proven further oil in its Goliat discovery in the Barents Sea. Semisub Polar Pioneer drilled well 7122/7-4 S to appraise the Goliat South structure; the main aims were to establish a deeper oil/water contact in the Realgrunnen sub-group reservoir, and a gas/oil contact in the Kobbe formation reservoir.

The well achieved both objectives, but also encountered a deeper oil column in early Triassic (Klappmys formation) sandstone. Eni is now assessing the results as part of the resource base for a potential field development. The well also indicated a greater than expected proportion of gas, which may have a bearing on the production concept.

According to Eni, no previous wells have proven petroleum potential in this part of the Hammerfest basin. The rig has since moved on to drill an exploratory well on the Goliat West structure, the aim here being to test early to late Triassic hydrocarbon potential.

11-28-06

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