Statoil finds more oil in Krafla area offshore Norway

Offshore staff

TRONDHEIM, Norway – Statoil has proved more oil near the Krafla structure in the Norwegian North Sea, according to partner Det norske oljeselskap.

An exploration well on the Krafla North prospect in 105 m (344 ft) of water encountered an 80-m (262-ft) oil column in the Tarbert formation and a 20-m (66-ft) oil column in the Etive formation.

The location is in a downfaulted segment, 1.6 km (1 mi) north of the Krafla discovery well 30/11-8 S drilled in 2011.

Preliminary estimates indicate 6-19 MMboe recoverable.

The partners in the PL 035 and PL 272 licenses will evaluate the latest find in connection with the earlier Krafla and Askja discoveries. Total reserves could be in the 75-143 MMboe range.

On completion of the current well, the 30/11-10 A side track will be drilled on Krafla Main.

12/19/2014

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