On Feb. 3, Statoil ASA (NYSE: STO) reported it made a new gas discovery in the Valemon West Field that could contain between 20 million barrels of oil equivalent (MMboe) and 50 MMboe, two years after the field came onstream.
“This is an important discovery for the further development of Valemon,” said Gunnar Nakken, Statoil’s senior vice president for the Operations West Cluster, which covers the company’s Bergen-operated fields.
The well was drilled 160 kilometers northwest of Bergen, and it is the seventh exploration well that is being drilled in production license 193 D, Valemon Unit.
The exploration well was drilled by the West Elara jackup to a vertical depth of 4,337 m below sea level, and the area's water depth is 133.5 m. The well is currently being completed and put onstream from the Valemon Platform.
The Valemon reservoir is fragmented, high-pressure and high-temperature, the press release said.
The Valemon Unit partners are Statoil Petroleum AS (operator, 53.775%), Petoro AS (30%), Centrica Resources (Norge) AS (13%) and A/S Norske Shell (3.225%).
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