COP Casino Guichard Perrachon

   DOW JONES NEWSWIRES 
 

The Norwegian Petroleum Directorate said Tuesday that StatoilHydro has concluded the drilling of wildcat wells 34/8-13 A and 34/8-13 S, and both proved oil.

 
   MAIN FACTS: 

-Well 34/8-13 A proved a 15-metre oil column in sandstone from the Upper Jurassic, while the underlying Brent group in the Middle Jurassic was water-filled.

-Well 34/8-13 S was then drilled 2.7km southeast of 34/8-13 A, and encountered a 20-metre oil column in the Brent group.

-Communication probably exists between the oil zones in the two wells, and extensive data acquisition and sampling have been carried out on both wells.

-The size of the discovery is between 0.9M and 2.0M standard cubic metres (Sm3) of recoverable oil equivalents.

-The licensees in the production licence will consider producing the discovery via the Visund field.

-The wells will be permanently plugged and abandoned.

-The licensees in production licence 120: Total E&P Norge 11%, ConocoPhillips Skandinavia 13%, Petoro 16.94%, StatoilHydro Petroleum 59.06%.

-By Stockholm Bureau, Dow Jones Newswires; +46-8-5451-3090; djnews.stockholm@dowjones.com