Statoil has found more resources in the Krafla area of the North Sea in Norwegian waters .
The company, along with PL035 partners, said the main Tarbert appraisal well and the small oil discovery in the Krafla North prospect in December has increased the “robustness” of the field development project.
Statoil has completed a two-well programme in the Krafla area which is located 25kilometres southwest of Oseberg South in the North Sea.
Irene Rummelhoff, Statoil senior vice president for exploration on the Norwegian Continental Shelf (NCS), said: “Since 2011 we have made five discoveries in the Krafla area which includes the licences PL035 and PL272: Krafla Main, Krafla West, Askja West, Askja East and Krafla North.
“Altogether we expect to have discovered recoverable resources in a range of 140-220 million barrels of oil equivalent just 25 kilometres southwest of Oseberg South and 150 kilometres west of Bergen. These are very substantial volumes for a mature area of the shelf.”
The company said it had put a lot of effort into unlocking the full potential of the mature areas of the NCS, both through increased recovery initiatives in producing fields and targets exploration programmes in surrounding area.
Statoil is the operator of PL035/PL272 with an interest of 50%. The partners are Svenska Petroleum Exploration AS (25%) and Det norske oljeselskap ASA (25%).
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