STOCKHOLM, Sweden – Statoil Petroleum AS (OSE:STL, NYSE:STO) has spudded exploration well 16/2-12 in the Norwegian North Sea license PL265. The well targets the Geitungen structure and is between the Johan Sverdrup discovery and the 16/2-9s Aldous Major North discovery.
The main objective is to prove the presence of oil in Jurassic sandstones similar to the Johan Sverdrup discovery.
The planned TD is 2,060 m (6,759 ft) below mean sea level. The well will be drilled with the drilling rig Ocean Vanguard and the duration is expected to be 40 days.
Lundin Norway holds 10% interest in PL265. Partners are Statoil (operator) with 40%, Petoro (30%), and Det norske oljeselskap ASA (20%).