Åsgard field resource potential confirmed

Wells 6506/12-12 S and 6506/12-12 A have confirmed the existence of oil, gas, and condensate in the northeastern part of the Smørbukk deposit on the Åsgard field in the Norwegian Sea, according to StatoilHydro.

Offshore staff

OSLO -- Wells 6506/12-12 S and 6506/12-12 A have confirmed the existence of oil, gas, and condensate in the northeastern part of the Smørbukk deposit on the Åsgard field in the Norwegian Sea, according to StatoilHydro. The company estimates proven resources of between 15 and 25 MMboe.

The main purpose of the well was to confirm the existence of hydrocarbons in Mid/Lower Jurassic reservoir rocks in the northeastern segment of Smørbukk and to delineate the discovery.

The well also penetrated the Grizzly prospect in Cretaceous strata. It struck small amounts of hydrocarbons in the Lange/Lysing formations, the company reports. Extensive data acquisition was performed, but these resources are not expected to be recoverable, the company says.

The semisub Transocean Leader also drilled a sidetrack well for further data acquisition. The sidetrack is prepared for use as a future production well.

The company is now considering development in association with the Åsgard B platform.

"The proven resources may allow a new subsea template to be tied in to the existing infrastructure on the Åsgard field," says Tore Kulset, asset owner representative for the Smørbukk Northeast project. "Development would be positive with regard to further activity in the area. Production from the segment may be possible in three to four years.”

09/02/2009

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