Significant new discovery in the North Sea

Statoil has made a significant gas and condensate discovery in the King Lear prospect in the southern part of the Norwegian North Sea along with its partner Total E&P Norge.

Exploration well 2/4-21 drilled by the jack-up rig Maersk Gallant in production licences 146 and 333, has proven a 48-metre gas/condensate column in the main bore 2/4-21 and an additional 70-metre gas/condensate column in the side-track 2/4-21A.

Statoil estimates the total volumes in King Lear to be between 70 and 200 million barrels of recoverable oil equivalent (o.e.).

“Statoil had earlier defined King Lear as a potential high-impact prospect. The drill results confirm our expectations and show once again that the Norwegian continental shelf still delivers high value barrels,” says Gro Gunleiksrud Haatvedt , senior vice president exploration Norway in Statoil.

Data acquisition is currently being finalised in the sidetrack. As King Lear is a high-pressure, high-temperature well, special attention is given to ensuring safe drilling operations.

The King Lear discovery is an important contribution to Statoil’s corporate strategy of revitalising the NCS with high-value barrels.

“King Lear lies approximately 20 kilometres north of the Ekofisk field. It is encouraging to see that this part of the Norwegian continental shelf – home to the first commercial oil find in Norway – is still delivering significant discoveries,” says Haatvedt.

“This reinforces our faith in the exploration potential of the Norwegian continental shelf. Not only does it have a proud past, but also an exciting future,” she adds.

The King Lear discovery is the eighth high-impact discovery made by Statoil over the last 15 months. The other high-impact discoveries are Zafarani and Lavani in Tanzania, Skrugard and Havis in the Barents Sea, Johan Sverdrup (formerly Aldous/Avaldsnes) in the North Sea, and Peregrino South and Pão de Açúcar (non-operated) in Brazil.

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