Garantiana confirmed
Det norske oljeselskap ASA, has as partner in PL 554 (20 percent) by an appraisal well, confirmed the oil discovery at Garantiana.
Preliminary estimated size of the discovery is between 25 and 75 million barrels of recoverable oil.
The wildcat well (34/6-2 S) encountered oil in the lower Jurassic Cook formation with good reservoir quality. A successful production test was carried out. The flow rate was 4.300 barrels of oil per day, through a 28/64” Choke. A sidetrack (well 34/6-2 A) was then drilled to appraise the discovery by identifying the oil-water contact in the formation.
The oil-water contact was encountered, and confirms the extension of the discovery.
Different development solutions of the discovery are now being studied, either as a sand-alone field development or as a subsea tie-back to an existing host field in the area. Other prospects are located in the immediate vicinity of the discovery, and are under evaluation. A second exploration well will be drilled in the area in 2013.
The wells 34/6-2 S and 34/6-2 A are the first wells in production license 554. The license is located in the northern part of the North Sea, 185 kilometers northwest of Bergen , and 30 kilometers northeast of the Visund field. The license was awarded in APA 2009. The wells were drilled to a total vertical depth of respectively 4.050 and 3.810 meters below sea level. Water depths are approx. 384 meters. Borgland Dolphin carried out the drilling operations. The wells will now be permanently plugged and abandoned.
Total E&P Norge is the operator of the license with a 40 percent interest. Det norske oljeselskap has a 20 percent interest in the license. Other partners are Bridge Energy Norge AS (20 percent) and Svenska Petroleum Exploration (20 percent).
Contact:
Knut Evensen, 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 Ivar Aasen.
Det norske has its headquarter located in Trondheim, and offices in Oslo and Harstad. As of today we are more than 200 employees. Det norske is listed on the Oslo Stock Exchange with the ticker “DETNOR”.
More about Det norske at www.detnor.no/en