News, Oil & Gas

Oil discovery above the Gullfaks field in the North Sea

Statoil Petroleum AS has proven a substantial volume of oil in the Shetland group/Lista formation.

Through production testing of well 34/10-A-8, Statoil Petroleum AS, operator of production licence 050, has proven a substantial volume of oil in the Shetland group/Lista formation, which is located above the Gullfaks field.

The size of the discovery is associated with considerable uncertainty. Preliminary estimates based on modelling, formation tests and sampling indicate recoverable resources in the area of 6 – 24 million Sm3 of oil equivalents, but the deposit may be considerably larger.

The discovery is particularly interesting because it shows that untraditional and previously overlooked deposits may represent considerable values.