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New oil find in Visund area

December 13, 2001, 00:00 CET

Norsk Hydro has found oil in two separate zones while drilling exploration well 34/8-12 S in the Visund South prospect in the Norwegian sector of the North Sea.

"We've made two interesting finds of light oil/condensate in rock dating from between the middle and early Jurassic Age," said Hydro project manager Jan Reidar Johnsen.

"Because we've found hydrocarbons in two separate zones, we're optimistic about making more discoveries in the area. Meanwhile, additional exploration and delineation drilling is needed to determine whether the area can be commercially produced."

Well 34/8-12 S was drilled by the Transocean Arctic rig to 3,160 meters vertical depth and completed in rock from the Triassic Age. Visund South lies in an area between the Visund, Gullfaks and Snorre field. The well was not tested and is now plugged.

The shareholders in development and production license 120 are: Norsk Hydro (operator) with 29 percent, TotalFinaElf at 11 percent, Conoco 13 percent, Petoro 16.9 percent and Statoil 30.1 percent.