Aldous Major South discovery well suggests large oil reserves

In the Norwegian North Sea, Statoil has made a potentially large oil discovery which could be in communication with the nearby Avaldsnes find.

Offshore staff

STAVANGER, Norway -- In the Norwegian North Sea, Statoil has made a potentially large oil discovery which could be in communication with the nearby Avaldsnes find.

The semisub Transocean Leader drilled well 16/2-8 on the Aldous Major South prospect in license PL 265, in 112 m (367 ft) water depth. The well identified a 65-m (213-ft) oil column in Jurassic sandstone, with high-quality reservoir.

Statoil puts preliminary volumes in the range 200-400 MMboe for this part of the structure in PL 265, but expects additional upside in the license to the north and south of the discovery.

Aldous Major South is 4 km (2.5 mi) west of Avaldsnes in PL 501. It is operated by Lundin Norway, and Statoil has a 40% stake. Lundinis also a partner in the new find, along with Det norske oljeselskap and Petoro.

Well 16/2-8 indicates the same oil/water contact as in the Avaldsnes discovery well, which encountered a 17-m (55.8-ft) oil column.

The two structures combined could form the basis for a new stand-alone development in the North Sea, said Gro Haatvedt, Statoil’s senior VP for Exploration on the Norwegian continental shelf.

Lundin CEO Ashley Heppenstall added: “Avaldsnes/Aldous Major South is a world class oil discovery and likely to be one of the largest Norwegian fields found in recent years.”

After P&A, Transocean Leader will start drilling the Aldous Major North prospect, again targeting Upper Jurassic sandstones. Next year, the partners plan two drill two appraisal wells in PL 265. The result of Lundin’s current 16/2-7 well on Avaldsnes structure should further clarify the area’s potential.

08/08/2011

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