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Oil find in Gulf of Mexico

July 22, 2003, 10:00 CEST

Norsk Hydro is a partner in exploration activities in the Gulf of Mexico, including the Lorien exploration well on the Green Canyon Block 199. The block's operator, ConocoPhillips, today announced a discovery in the well, located some 150 miles south-southwest of New Orleans.

The Lorien exploration well was spudded February 16, 2003, and drilled in 2,177 feet of water to a total depth of 18,703 feet (17,432 feet true vertical depth), encountering more than 120 feet of hydrocarbons in a high-quality reservoir interval.

The well has been temporarily suspended, pending further appraisal of the hydrocarbon zone.

ConocoPhillips is operator with a 65 percent stake. Other partners are Noble Energy with 20 percent, Hydro at 10 percent and Davis Offshore with 5 percent.