World

 

Brazil

Mexico

Bolivia

Peru

Trinidad &
Tobago

Venezuela


Brazil

Mexico

Bolivia

Peru

Trinidad &
Tobago

Venezuela








Very usefull links



Petroleumworld
Bookstore



Institutional
links


OPEC



 


Petroleumworld
Business Partners

 


IRAQ OIL THE FORUM


Blogspots
recomended

caracas chronicles

Gustavo Coronel

Iran Watch.org

Venezuela Today

Le Blog des
Energies Nouvelles

 

 

 

 


Norway: Statoil, made breakthrough
oil discovery in the Barents Sea

CARACAS
Petroleumworld.com, April 1
, 2011

Statoil, has made a significant oil discovery on the Skrugard prospect in the Barents Sea. The breakthrough discovery is one of the most important finds on the Norwegian continental shelf in the last decade, STAOIK reported in a press release.

Statoil and its partners are in the process of concluding drilling operations on the Skrugard prospect, which is located approximately 100 kilometres north of the Snøhvit gas field in the Barents Sea.

The well was drilled with the Polar Pioneer rig, and has proven gas column of 33 metres and an oil column of 90 metres. The oil is anticipated to be easily producible.

The firm said the Skrugard licence some 200 km off northern Norway's coast could hold recoverable reserves of 150-250 million of barrels of oil equivalent, with the potential for an additional 250 million barrels -- 500 million barrels in total.

“The Skrugard find is significant and a break-through for frontier exploration in the Barents Sea. This opens a new oil province that can provide additional resource growth,” says Tim Dodson, executive vice president for Exploration in Statoil.

He emphasises that it is too early to say something concrete about the total potential of the area, but ventures to characterise the Skrugard find as the most important exploration event on the Norwegian continental shelf in the last decade. The discovery is vital in order to maintain the technology and technical environments in the oil and gas industry in Norway in the future.

Statoil has plans for both the drilling of a new prospect in the same license next year, and a possible appraisal drilling at Skrugard.

The Skrugard prospect was Statoil's first priority in the 20th licensing round on the Norwegian continental shelf, which was awarded in April 2009. Over the course of the spring the Norwegian government will allocate acreage in the 21st licensing round. Acreage in areas nearby Skrugard is expected to be assigned during the round.

Drilling operations have been conducted in a safe, efficient and environmentally friendly manner. Several core samples have been taken in order to understand reservoir properties, and some data collection in the well still remains.

In total there have been over 80 wells drilled in the southern Barents Sea, and Statoil has been the operator for more than 60 of these. The Snøhvit gas field, which is operated by Statoil, is the only field centre established so far in the Barents Sea, while Eni's Goliat field is under development.

“The Barents Sea is large, and we can not say that we have cracked the code for the entire area yet. But we have confirmed that our exploration model is correct. This is a break-through, and an important step in understanding how the geology – and thus the hydrocarbon systems in the Barents Sea – works,” says Dodson.

“If the volume estimates are confirmed, then this discovery could provide a basis for an independent development. Given that it takes between five to 10 years from discovery to production, we are planning for the future now. Our ambition is to put this find into production as quickly as possible,” he adds.

Statoil is the operator of license 532 with a 50% share. The license partners are Eni (30%) and Petoro (20%).

 

Source: Statoil / Reuters

Story from Petroleumworld.

Petroleumworld.com / Wed Mar 30, 2011 7:25pm EDT

 

 

Send this story to a friend


Copyright© 1999-2009 Petroleumworld or respective author or news agency. All rights reserved.

We welcome the use of Petroleumworld™ stories by anyone provided it mentions Petroleumworld.com as the source. Other stories you have to get authorization by its authors.

Internet web links to http://www.petroleumworld.com are appreciated

Petroleumworld welcomes your feedback and comments,
share your thoughts on this article, your feedback is important to us!

We invite all our readers to share with us
their views and comments about this article.Write to editor@petroleumworld.com

By using this link, you agree to allow PW
to publish your comments on our letters page.

Any question or suggestions, please write to: editor@petroleumworld.com

Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7+/ 800x600 pixels


TOP

Contact: editor@petroleumworld.com/phone:(58 212) 635 7252, (58 412) 996 3730 or
(58  412) 952 5301

Editor:Elio C. Ohep A/Producer - Publisher:Elio Ohep /
Contact Email: editor@petroleumworld.com
CopyRight © 1999-2006, Elio Ohep - All Rights Reserved. Legal Information
- CCS office Tele
phone/Teléfonos Oficina: ( 58 212) 635 7252
PW in Top 100 Energy Sites

Technorati Profile

Fair use notice of copyrighted material:
This site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission fromPetroleumworld or the copyright owner of the material.