Statoil said today that there are still plenty of good opportunities in the North Sea after striking gas at Valemon.
The discovery is estimated to contain between 20-50 million barrels of oil equivalent.
The exploration well on licence 193 D in the Norwegian sector of the North Sea was drilled from Valemon by the jackup rig West Elara.
The well is currently being completed and put on stream from the Valemon platform.
Gunnar Nakken, Statoil’s senior vice president for the operations west cluster, said: “This is an important discovery for the further development of Valemon.
“These new reserves can be put on stream immediately and will add considerable value.
“The discovery proves that there are still good opportunities in the North Sea, an area we know well, and its infrastructure is extensive.”
Jez Averty, Statoil’s head of exploration in Norway and the UK, said: “We are very pleased to announce our second discovery in 2017.
“Discoveries like this one and Cape Vulture are valuable contributions to existing fields.”
The Valemon Unit partners are operator Statoil (53.7%), Petoro AS (30%), Centrica Resources (13%) and Norske Shell (3.2%).