Large oil discovery at Geitungen
Det norske oljeselskap ASA has made an oil discovery in the Geitungen
prospect on the Utsira High in the North Sea. Statoil is the operator in
the license 265.
The exploration well 16/2-12 drilled by the drilling rig Ocean Vanguard
has proven a 35 metre oil column in a high quality reservoir dating from
the Jurassic period. Operator Statoil estimates the volumes in Geitungen
to be between 140 and 270 million barrels of recoverable oil equivalents
Geitungen was drilled approximately three kilometres north of the Johan
Sverdrup discovery and was defined as a separate prospect in the license
265. Well data indicate that there is communication between the two
discoveries. Oil was also proven in the underlying basement rocks. This
is regarded as a possible future upside in connection with the
development of the area.
Erik Haugane, CEO in Det norske, says this is great news.
- This increases the volumes in license 265 and the Johan Sverdrup
area significantly. It also increases the oil resources of Det norske
substantially. For us this is a fantastic discovery.
Statoil as pre-unit operator plans to communicate an updated volume
range for the Johan Sverdrup pre-unit at a later stage. There is an
extensive appraisal program going on in the Johan Sverdrup discovery,
both in PL 265 and PL 501. Following completion of well 16/2-12, the
Ocean Vanguard drilling rig will move to Johan Sverdrup to drill two
appraisal wells in the central and southern parts of PL 265, followed by
a well in PL 502 on the same trend, where Det norske holds 22.22
percent. Well 16/2-12 is the eighth well in production licence 265.
Det norske oljeselskap holds 20 percent in licence 265. Statoil (40
percent) is operator. Other partners are Petoro AS (30 percent) and
Lundin Norway AS (10 percent).
Erik Haugane, CEO, tel.: +47 907 21 655
Knut Evensen, Sr. VP Investor Relations, tel.: +47 950 77 622
About Det norske:
Det norske oljeselskap ASA (DETNOR) specialize in extracting petroleum
resources on the Norwegian Continental Shelf (NCS). We are an ambitious
company with significant exploration activity. Recently we have taken
part in some major discoveries, Johan Sverdrup being the single most
important. We now face several development projects, among them Jette as
operator, and Draupne.
Det norske has its headquarter located in Trondheim, and offices in Oslo
and Harstad. As of today we are more than 190 employees. Det norske is
listed on the Oslo Stock Exchange with the ticker "DETNOR".
More about Det norske at www.det