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New find in Oseberg Sør area

March 3, 2002, 00:00 CET

Norsk Hydro has found oil in exploration well 30/9-20S in the Oseberg area some 130 kilometers west of Bergen, Norway. The discovery may be phased into the Oseberg Sør (South) platform.

"We will now evaluate the results and see if it's possible to recover the oil in connection with the development of the J structure in the Oseberg Sør area," says Hydro director of the Oseberg business unit Øystein Michelsen. "We will present further plans next year."

The oil was proven in a sandstone layer. Core samples have been taken and thorough logging and testing have been done.

The well, drilled by Transocean Arctic at a sea depth of 101 meters and total well depth of 3,072 meters, is now plugged and abandoned.

Shareholders in license 104 are:

Norsk Hydro Production AS (operator) 34 percent
Norske Conoco A/S 11 percent
Statoil ASA 20 percent
Petoro AS 30 percent
Mobil Development Norway AS   5 percent