Uranus well misses target

March 23, 2006
Barents Sea exploration well fails to confirm Statoil's reservoir rock theory

Offshore staff

(Stavanger) Statoil's latest exploration effort in the Barents Sea failed to prove up producible hydrocarbons. The well, drilled by the harsh environment semiEirik Raude, was testing the Uranus prospect in the North Cape basin, 25-km from a small oil and gas discovery made in 2001, named Pandora.

The latest well did not encounter the same reservoir rock that had been encountered on Pandora, but Statoil still maintains it is present both in Uranus and other structures in the basin. The rig has since moved south to drill the Edvarda prospect in the Norwegian Sea.

03-23-06