Second Galtvort well confirms gas pay

StatoilHydro is completing the drilling of the second of two exploration wells on the Galtvort prospect.

Offshore Staff

OSLO -- StatoilHydro is completing the drilling of the second of two exploration wells on the Galtvort prospect. The first well, 6407/8-4 S, which was drilled in May, confirmed the existence of gas. Sidetrack well 6407/8-4 A, which is now being completed, has confirmed the existence of gas as well, the company says.

StatoilHydro says preliminary calculations show that the recoverable gas volume in the Galtvort discovery is in range of 1 to 3 bcm. Development planning is under way.

No formation testing has been performed, but extensive data collection and sampling have been conducted in the two wells drilled in the Galtvort prospect. The two wells are the first ones in production license 348, awarded in TFO 2004 (awards in pre-defined areas).

06/16/2008

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