Statoil has made an oil discovery in the Geitungen prospect on Utsira High in the North Sea. Exploration well 16/2-12 has proven a 35 meter oil column in a high quality reservoir dating from the Jurassic period. Statoil estimates the volumes in Geitungen to be between 140 and 270 mbl of recoverable oil equivalents. Well 16/2-12 is the 8th well in production licence 265.
This new oil discovery in the Johan Sverdrup area, in the mature part of the North Sea reinforces Statoil's faith in the exploration potential and Statoil is going to drill two appraisal wells in the central and southern parts of PL 265.
Statoil is operator for production licence PL265 with an ownership share of 40% interest. The licence partners are Petoro AS (30%), Det norske oljeselskap ASA (20%) and Lundin Norway AS (10%).
Source: Statoil