News, Oil & Gas

Statoil with gas discovery in Pingvin

Statoil and PL713 partners have made a gas discovery in the Pingvin prospect in the Barents Sea.

The discovery is a play opener in a frontier unexplored area of the Barents Sea northwest of Johan Castberg.

 

“Pingvin is the first well drilled in PL713 – a large frontier area northwest of Johan Castberg awarded in the 22nd concession round. For a discovery in this area to be commercially viable it needs to be an oil accumulation of a significant size. A gas discovery does not have commercial value at present.

 

To read more, please visit Statoil.com.