Statoil failed to find oil at its northernmost Arctic well

Statoil did find small, non-commercial quantities of natural gas at Korpfjell, but it’s not profitable to develop, the Norwegian Petroleum Directorate (NPD) said in its statement, adding that this was the first well to be drilled in the southeastern Barents Sea that was opened for exploration activity in 2013.

Lundin Norway has completed the drilling of appraisal wells 7220/11-4 and 7220/11-4 A in the 7220/11-1 (Alta) oil and gas discovery within production licence 609 in the Barents Sea.

Under the campaign, well 7220/11-4 delineated the eastern flank of the discovery and identified the reservoir extent of conglomerates of late-Permian to early Triassic Age, late-Carboniferous to early Permian carbonate rocks (├śrn formation), hydrocarbon columns and the quality of Carboniferous reservoir rocks. The gas was proven in the well’s main target. The Korpfjell gas discovery is estimated to contain gross resources between 40 and 75 million barrels of oil equivalent (MMboe).

Extensive data and samples gathered by the company highlighted good communication within the Alta structure.

Korpfjell was the first exploration well drilled in the Norwegian section of a formerly disputed area between Norway and Russian Federation, where Statoil and its partners had hoped to make a major discovery. Further drilling is expected to take place in 2018 in PL859 to test additional prospectivity. It is located about 35 km from the border between Norway and Russian Federation.

“We are also drilling three further high impact exploration wells on the Loppa High and Filicudi trends in the southern Barents Sea before the end of the year, and so we remain excited about the significant exploration potential in the area”.

Water depth in the area is 253 metres.

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