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Ellida yields oil

August 8, 2003, 15:00 CEST

Oil has been struck by Statoil during the drilling of its Ellida wildcat in Norwegian Sea block 6405/7.

The discovery was made in Cretaceous sandstones. Cores have been taken and logging carried out.

”It’s positive that we’ve found oil,” says Kent Høgseth, Statoil’s exploration manager for the deepwater areas of the Norwegian Sea.

”But I must emphasise that it’s far too early to say anything about whether this can be produced or possible recoverable reserves.”

The well is being drilled by the West Navigator rig in 1,200 metres of water, and will now be continued to a total depth of 4,000 metres.

Statoil is operator for the production licence in block 6405/7 with a 30 per cent interest. The other licensees are BP with 20 per cent, Petoro 20 per cent, Norske Shell 20 per cent and ConocoPhillips 10 per cent.