Statoil's Barents Apollo approved

May 23, 2014

NPD map of planned wells in Barents Sea, 2014-2015The Norwegian Petroleum Directorate has granted Statoil Petroleum AS a drilling permit for well 7324/2-1. It will be the first well to be drilled in Production License (PL) 615 in the Barents Sea.

The wildcat well 7324/2-1 (Apollo) will be drilled from the Transocean Spitsbergen semisubmersible drilling rig at position 73°51’47.90″ north and 24°32’29.90″ east.

Statoil obtained both PL 614 and PL 615 on 13 May 2011 in the 21st licensing round on the Norwegian shelf. They are in the Hoop area, about 200km northeast of the Skrugard discovery. The company says they were its first priority in the 21st licensing round.

Statoil is the operator of PL615 (35%), with partners ConocoPhillips Scandinavia AS (25%,) OMV (Norge) AS (20%), and Petoro AS (20%). The area in this license consists of parts of Blocks 7324/1, 2, 3 and 7325/1.

The permit is contingent upon the operator securing all other permits and consents required by other authorities prior to starting the drilling activity.



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