News, Oil & Gas

Statoil completes 2014 Hoop exploration programme

Statoil and Idemitsu Petroleum Norge have made a small gas discovery in the Mercury prospect n PL614. This is located in the Barents Sea.

This discovery completes Statoil’s 2014 exploration programme in the Hoop area.

 

Over the summer, Statoil drilled three exploration wells in the area: Apollo and Atlantis in PL615 and Mercury in PL614. These three drills did, unfortunately, not result in commercial discoveries.

“We are naturally disappointed with the results of this summer’s drilling campaign in the Hoop area,” says Irene Rummelhoff, Statoil senior vice president for exploration on the Norway continental shelf.

 

“However, it is important to understand that Hoop is a frontier area of more than 15,000 square kilometres with only six wells completed to date, so we do not have all the answers about the subsurface yet. Non-commercial discoveries and dry wells are part of the game in frontier exploration. They provide important knowledge about the area.”

 

To read more, please visit Statoil.com here.