Statoil test confirms reservoir quality

Statoil ASA, operator of block 7131/4, one of the blocks in production license 233 in the Barents Sea, has drilled wildcat well 7131/4-1 and has gathered data confirming reservoir-quality sandstone. The well is in 331 m of water about 115 km northeast of the Nordkyn peninsula.

Statoil drilled the Guovca well to test a prospect in sandstone from the Late Jurassic Age.

The well did not prove hydrocarbons, but the collected data confirms that sandstones of reservoir quality are present in the area. Statoil will analyze the data to determine the reason for the lack of hydrocarbon filling. The operatpr concluded drilling activity was concluded in source rocks of Triassic Age, 1,270 m below sea level. Statoil will plug and abandon the well and move theEirik Raude semisubmersible to the Norwegian Sea to drill well 6302/6-1 in production license 251.

The Norwegian Petroleum Directorate said that even though this prospect is dry, this does not alter its assessment that discoveries can still be made in the Barents Sea.

5/13/2005