Statoil and partners have proven a small, non-commercial gas volume in the Korpfjell well in the Barents Sea southeast. Korpfjell is the first exploration well drilled in the Norwegian section of a formerly disputed area between Norway and Russia.
The main purpose of the well was to prove whether there was any oil and gas in the large geological structure on Korpfjell. The drilling has only proven small gas volumes. The gas discovery is estimated to contain 40-75 million barrels of recoverable oil equivalents (6-12 billion standard cubic metres of gas), but the volume is not large enough for a commercial development. The gas was proven in the well’s main target. Statoil and its licence partners will now start analysing the well data acquired.
Statoil is planning both operated wells and participation in partner-operated wells in the Barents Sea southeast area in 2018. These plans also include drilling the second commitment well in the Korpfjell licence PL 859.
Partners in Korpfjell (PL859): Statoil (operator) 30%, Chevron 20%, Petoro 20%, Lundin Norway 15% and ConocoPhillips 15%.