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The size of the find is between 12.5 million and 56.5 million barrels of recoverable oil equivalent, based on preliminary calculations, Statoil said.
The discovery well, drilled by the rig Ocean Vanguard in about 107 metres of water, was the sixth probe to be drilled in Production Licence 035 after earlier drilling efforts have failed to yield commercial hyrdrocarbons.
“Although data collection is still ongoing, the results so far clearly indicate that this is an oil discovery. If this is the case then we have unlocked the exploration potential of this area and have several follow-up opportunities,” said Statoil’s exploration manager for the northern North Sea, Tom Dreyer.
The Norwegian state oil company recently submitted a fast-track development plan to the authorities for the earlier Katla find located nearby.
The latest discovery is likely to be brought on stream quickly, probably as a tieback to one of the subsea installations in the Oseberg area, according to Statoil.
Gro Gunleiksrud Haatvedt, Statoil’s head of exploration on the Norwegian continental shelf, said the discovery marked further exploration success for the company in mature areas.
“The North Sea is a strategically important area to Statoil, and this discovery on Krafla confirms once again that the company can still find interesting volumes close to established infrastructure.,” she said.
”These discoveries can quickly be put on stream and help extend the life of our installations,” she added.
The Krafla well will now be permanently plugged and abandoned. Once this is completed, the Ocean Vanguard will start drilling a planned sidetrack on Krafla West, located west of the discovery well.
Statoil is operator of the licence with a 50% stake, with partners Det Norske Oljeselskap and Svenska Petroleum each on 25%.
The discovery well, drilled by the rig Ocean Vanguard in about 107 metres of water, was the sixth probe to be drilled in Production Licence 035 after earlier drilling efforts have failed to yield commercial hyrdrocarbons.
“Although data collection is still ongoing, the results so far clearly indicate that this is an oil discovery. If this is the case then we have unlocked the exploration potential of this area and have several follow-up opportunities,” said Statoil’s exploration manager for the northern North Sea, Tom Dreyer.
The Norwegian state oil company recently submitted a fast-track development plan to the authorities for the earlier Katla find located nearby.
The latest discovery is likely to be brought on stream quickly, probably as a tieback to one of the subsea installations in the Oseberg area, according to Statoil.
Gro Gunleiksrud Haatvedt, Statoil’s head of exploration on the Norwegian continental shelf, said the discovery marked further exploration success for the company in mature areas.
“The North Sea is a strategically important area to Statoil, and this discovery on Krafla confirms once again that the company can still find interesting volumes close to established infrastructure.,” she said.
”These discoveries can quickly be put on stream and help extend the life of our installations,” she added.
The Krafla well will now be permanently plugged and abandoned. Once this is completed, the Ocean Vanguard will start drilling a planned sidetrack on Krafla West, located west of the discovery well.
Statoil is operator of the licence with a 50% stake, with partners Det Norske Oljeselskap and Svenska Petroleum each on 25%.
