Statoil announced a light, high-quality oil discovery at its Harpoon prospect (EL 1112) in the Flemish Pass basin, off Newfoundland, Canada.
The company said it was too early to assess Harpoon's resource potential, but that it is encouraged by the results.
"We anticipate there will be further appraisal drilling to mature this discovery in the future," said Erik Finnstrom, senior vice president for Exploration North America in Statoil. "We will continue to build this area as a core exploration region for Statoil."
The semisubmersible rig West Aquarius drilled the Harpoon prospect in approximately 1,100m of water. Harpoon is located 500km northeast of St. John's and about 10 km southeast of Statoil's Mizzen discovery. The Mizzen discovery is estimated to hold between 100-200MMbo.
Statoil is in the midst of a three-well exploration program off Newfoundland. Currently, the Norwegian company is drilling into its Federation prospect in the Jeanne d'Arc basin. It plans to return to the Flemish Pass this year to drill at Bay du Nord, which is southwest of discovery areas Harpoon and Mizzen.
Statoil operates Harpoon with a 65% interest. Its partner Husky Energy holds the remaining 35% stake.
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