Getting off to a good start in the Barents Sea

Statoil and partners ENI and Petoro have made an oil discovery in the Kayak well in the Johan Castberg licence.

Totalling between 25 and 50 million barrels of recoverable oil equivalents, the discovery may provide valuable additional volumes for the Johan Castberg development. The discovery also opens other exploration opportunities in the same area.

The Kayak well has for the first time proven resources in this type of play in the Barents Sea.

“We are very pleased to have made a good discovery in our first completed well in the Barents Sea this year. We are particularly pleased to have proven resources in a type of play that has not been explored before. This opens interesting opportunities,” says Jez Averty, senior vice president for exploration, Norway and the UK.

“Efforts will be made to find a commercial solution for the Kayak discovery towards the Johan Castberg licence, and to bring out other similar prospects in the Barents Sea,” Averty adds.

Portrait - Jez Averty — Jez Averty, senior vice president for exploration, Norway and the UK.

Totalling between 25 and 50 million barrels of recoverable oil equivalents, development of the discovery towards the Johan Castberg field will be considered.

“There may be additional resources in this structure, and we will now analyse the acquired data and consider possible appraisal of the discovery,” says Jez Averty.

The “Songa Enabler” rig will now return to and complete the Blåmann well. Next, drilling at Gemini North will start. All of the necessary permits are in place, and the work can start as early as 10 July.

For further information, please contact:

Media contact Morten Eek +47 416 89 515
Investor Relations Anca Jalba +47 410 87 988