20-75MM find near Valemon

April 11, 2014

Statoil and its partners have made a 20-75MM boe gas and oil discovery in the Valemon Nord prospect in the Norwegian sector of the North Sea.

The discovery wells 34/10-54 S and 34/10-54 A, in production license 050, drilled by the semisubmersible drilling rig Transocean Leader, are about 10km north of the planned Valemon installation.

The main wellbore 34/10-54 S proved a gross 164m gas/condensate and oil column in the Middle Jurassic Brent Group. The side-track 34/10-54 A proved a gross 100m gas/condensate column in the Brent Group and in sand of unspecified Jurassic age, and an additional gross 140-metre gas/condensate column in the Statfjord Group. Gas/condensate was also found in the middle Jurassic Cook Formation.

Irene Rummelhoff, senior vice president exploration Norway in Statoil, says: “By proving additional volumes in the area we increase the reserves base in the Valemon Unit area and add value to the Valemon field development.”

The Valemon field, discovered in 1985, is one of Statoil's largest ongoing development projects on the Norwegian Continental shelf. The recoverable reserves are estimated at 206MM boe. 

The development concept is a fixed platform, with rich gas export to Heimdal and condensate export to Kvitebjørn.  Production start-up is expected Q4 2014.

Statoil is operator with 53.775% interest. The partners are Petoro (30%), Centrica Resources (Norge) (13%) and A/S Norske Shell (3.225%).

The Transocean Leader will now move to PL073 to drill production well 6407/1-A-3, where Statoil is the operator.

 


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