North Sea Gullfaks field producing from new formations

Statoil (OSE:STL) and partner Petoro have proven further resources in Gullfaks license in the Norwegian North Sea.

Offshore staff

STAVANGER, Norway – Statoil (OSE:STL) and partner Petoro have proven further resources in Gullfaks license in the Norwegian North Sea.

This follows a test on production well 34/10-A-8 on the Gullfaks A platform from the Shetland Group and Lista formation.

Both are younger and slightly shallower deposits with different properties to the Brent Group deposits which hold the main Gullfaks reservoirs.

Statoil says it has recognized the prospectivity of these intervals for some time, but they had not been developed due to assumed poor reservoir qualities. However, the new well has provided good flow rates. It currently is flowing 7,500 b/d, and has delivered nearly 1 MMbbl since last December.

Early analysis of modeling, formation testing, and sampling suggest the discovery may hold 40-150 MMboe recoverable, with further potential upside, although more data are needed to clarify the resource and prospects for further development.

Gullfaks is in the Tampen area of the northern Norwegian North Sea. It came onstream in December 1986. Development is based around three fixed installations that have to date produced more than 2.4 Bbbl of oil and more than 56 bcm (2 tcf) of gas.

4/19/2013

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