Large discovery at Geitungen

This article originates from the news archive of Det norske.

27. August 2012

Det norske oljeselskap ASA has made an oil discovery in the Geitungen prospect on the Utsira High in the North Sea. Statoil is the operator in the license 265.

The exploration well 16/2-12 drilled by the drilling rig Ocean Vanguard has proven a 35 metre oil column in a high quality reservoir dating from the Jurassic period. Operator Statoil estimates the volumes in Geitungen to be between 140 and 270 million barrels of recoverable oil equivalents (o.e.).

Photo: Core sample from Geitungen, Statoil.

 

Geitungen was drilled approximately three kilometres north of the Johan Sverdrup discovery and was defined as a separate prospect in the license 265.

Well data indicate that there is communication between the two discoveries. Oil was also proven in the underlying basement rocks. This is regarded as a possible future upside in connection with the development of the area.

Great news

Erik Haugane, CEO in Det norske, says this is great news.

– This increases the volumes in license 265 and the Johan Sverdrup area significantly. It also increases the oil resources of Det norske substantially. For us this is a fantastic discovery.

Statoil as pre-unit operator plans to communicate an updated volume range for the Johan Sverdrup pre-unit at a later stage. There is an extensive appraisal program going on in the Johan Sverdrup discovery, both in PL 265 and PL 501. Following completion of well 16/2-12, the Ocean Vanguard drilling rig will move to Johan Sverdrup to drill two appraisal wells in the central and southern parts of PL 265, followed by a well in PL 502 on the same trend, where Det norske holds 22.22 percent. Well 16/2-12 is the eighth well in production licence 265.

Det norske oljeselskap holds 20 percent in licence 265. Statoil (40 percent) is operator. Other partners are Petoro AS (30 percent) and Lundin Norway AS (10 percent).

More on PL 265 here.