Hydro has completed drilling wildcat well 7220/6-1

Norsk Hydro Produksjon AS has reached the planned drilling depth for wildcat well 7220/6-1 in production license 225.

The well's primary target was a chalk prospect from the Permian and Carboniferous Ages, called "Obelix." The drilling activity was concluded in metamorphic rocks 1515 m below sea level.

The well proved a residual oil column of more than 120 m, with good indications of hydrocarbons in other portions of the stratigraphic sequence. However, attempts at sampling showed that the hydrocarbons could not be produced. The well was therefore plugged without production testing.

The collected data confirms that in addition to source rocks from the Late Jurassic Age source rocks from a potential Permian/Triassic Age have been proven in the area. This is an encouraging observation with a view toward future investigation of new exploration opportunities in the western Barents Sea.

The well was drilled about 190 km off the coast of Finnmark, north/north-west of Hammerfest. The water depth in the area is 394 m.

The drilling activity was carried out with theEirik Raude drilling facility. After completion of this well, the facility will be transferred to Statoil ASA for drilling of well 7131/4-1.

The licensees in production license 225 are Norsk Hydro Produksjon AS as operator 29%, Eni Norge AS 31%, and Statoil ASA 40%.

03-28-05