Statoil reports small noncommercial discovery

Norway's Statoil discovered a small hydrocarbon accumulation in the North Sea's Gullfaks area. The find, drilled by the semi Transocean Wildcat, is currently not considered to be commercial. The well was drilled in Block 34/10 in a separate structure roughly 6.2-miles southwest of the Gullfaks field. The well was drilled in 48 days to a total vertical depth of 10,564 feet. Statoil said a thin hydrocarbon zone with good properties was proven. This was most probably oil, but the well was not production tested. Measurements of pressure in the reservoir, however, provided promising information that could lead to future exploration in the area. The well's volume may be large enough to justify a sidetrack from a nearby template. Partners in the well include the state's direct financial interest and Norsk Hydro.