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Statoil reports success in North Sea's Krafla area

10/02/2015 by

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Statoil, together with its partners in PL035, has completed a two-well program in the Krafla area in the North Sea. Since 2011 significant new recoverable resources have been proven in the area.

The Krafla Main Tarbert appraisal well and the small oil discovery in the Krafla North prospect in December have increased the robustness of the Krafla field development project.

Irene Rummelhoff, Statoil's senior V.P. for exploration on the Norwegian Continental Shelf (NCS), said, "Since 2011 we have made five discoveries in the Krafla area which includes the licenses PL035 and PL272: Krafla Main, Krafla West, Askja West, Askja East and Krafla North."

"Altogether we expect to have discovered recoverable resources in a range of 140-220 MMboe just 25 km southwest of Oseberg South and 150 km west of Bergen. These are very substantial volumes for a mature area of the shelf," says Rummelhoff.

Statoil puts a lot of effort into unlocking the full potential of the mature areas of the NCS, both through increased recovery initiatives in producing fields and targeted exploration programs in surrounding areas.

This article has been extracted from http://www.worldoil.com, please click on this link to read the article in full http://www.worldoil.com/news/2015/2/9/statoil-reports-success-in-north-seas-krafla-area

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