Noreco - Brage well tested more than 17 000 barrels per day
Stavanger, 25 February, 2008: Norwegian Energy Company ASA (Noreco, OSE:NOR), The operator StatoilHydro has successfully completed a well on the North flank of the Brage field in Norway. The well was has been tested at stable rates of more than 17 000 barrels per day. This represents more than 2 100 barrels per day net to Noreco.
- We are delighted with the excellent production results from the well, which will add significant production and reserves to the Brage field. We are looking forward to the forward drilling program on Brage, says CEO Scott Kerr in a comment.
Statoilhydro has successfully completed the A-28B well to Bowmore structure on the North flank of the Brage field. The well was handed over to production on 16th of February and has been tested to a stable rate in excess of 17 000 barrels of oil per day. The well is currently being choked back a rate of 7500 barrels per day. The Brage field production is currently exceeding 25 000 - 27 000 barrels of oil per day, up from 17,000 barrels per day prior to putting the A-28B well on stream.
The A-28B well was drilled as a long reach well with a total length of more than 7400 m, and the drilling and completion operations has taken more than 5 months to complete. The well forms part of an extensive infill and exploration drilling program at Brage to maximize the recovery from the field.
Noreco holds a 12.6% share in Brage.
For further information, please contact:
Scott Kerr, CEO (+47 992 83 890)
Einar Gjelsvik, Vice President Investor Relations (+47 992 83 856)