New oil and gas discovered in Barents Sea


New oil and gas discovered in Barents Sea


According to Statoil, the total volumes in Drivis are approximated to be in the region of 44-63 million barrels of recoverable oil equivalent, out of which 42-54 million barrels is oil.


Well 7220/7-3 S has proven a 68-metre gross gas column in the Stø formation and an 86 metre gross oil column in the Stø and Nordmela formations.


The oil exploration campaign around the Johan Castberg field was launched by the firm to investigate the oil reserves in the area and make the development project more robust.


A total of five wells have been thoroughly explored over the period of 12 months. Drivis was the last well of this drilling campaign in the Johan Castberg area.


Irene Rummelhoff, Statoil's senior vice president for exploration on the Norwegian Continental Shelf made a statement:


“Over the past year we have made a significant exploration effort in the Johan Castberg area. Five wells have been drilled back-to-back, giving us important subsurface information and a good understanding of the total resource base in the area.” 


“We are certainly glad to have an oil discovery in Drivis. However, the exploration programme as a whole has not delivered on volume expectations. Out of the five wells drilled only two have resulted in oil discoveries.”


The company plans to evaluate the results of its exploration program to advance its Johan Castberg project.


“We will now work closely with our licence partners to analyse the findings of the exploration programme and what those mean for the Johan Castberg development project,” said Erik Strand Tellefsen, Statoil vice president for field development northern Norway.


Statoil is operator for production licence PL532 and owns 50% of the share. The licence partners are Eni Norge AS (30%) and Petoro AS (20%).


Photo Source: Offshore Energy Today