Offshore staff

STAVANGER, Norway – Statoil (OSE:STL;NYSE:STO) has discovered gas and condensate in the high-pressure/high-temperature King Lear structure in the southern Norwegian North Sea.

The jackup Maersk Gallant drilled the well in production licenses 146 and 333, 20 km (12.4 mi) north of the Ekofisk field. The well encountered a 48-m (157-ft) gas/condensate column in the main bore 2/4-21, and an additional 70-m (229-ft) gas/condensate column in the side track 2/4-21A. Statoil estimates reserves in the range of 70-200 MMboe.

Gro Gunleiksrud Haatvedt, senior vice president Exploration, Norway, said: “The drill results confirm our expectations, and show once again that the Norwegian continental shelf still delivers high value barrels.”

Data acquisition continues in the side track. Statoil plans appraisal drilling of the discovery and exploration drilling on other prospects in the licenses.

The company will evaluate King Lear as a stand-alone development or a tie-in to infrastructure in the area, which is better known as an oil province. Alternatively, King Lear and other gas resources nearby could form the basis for a future gas development.

These latest wells – the 11th and 12th drilled on PL146 – were in a water depth of 67 m (220 ft). Statoil’s sole partner is Total E&P Norge.

Elsewhere in the sector, Petroleum Safety Authority Norway has sanctioned use of the semisubmersible Transocean Searcher for drilling and completion of production wells on Statoil’s Tyrihans field in the Norwegian Sea, through March 20, 2013. Tyrihans is 25 km (15.5 mi) east of Åsgard in production license 091.

Statoil also has consent to use the new Floatel Superior mobile living quarters facility for accommodation to support fresh activity at the Njord field. The consent applies from July 20 through Dec. 10.

7/3/2012