Discovery in Barents Sea Delineated

Friday, December 05, 2008

StatoilHydro has completed the drilling of an exploration well on the Nucula discovery, which is located around 110 kilometres east-northeast of the Goliat discovery in the Barents Sea.

The purpose of exploration well 7125/4-2 in the StatoilHydro-operated production licence 393 was to delineate the Nucula oil and gas discovery from early 2007, and to explore another segment of the structure.
The well confirmed a small oil column in sandstone of the Triassic age. The oil-bearing layers were thin, but showed good production properties.

It is too early to reach a conclusion on the size of Nucula. Preliminary calculations would suggest that the resource basis lies in the lower region of the original estimation which was 6-12 million standard cubic metres of oil equivalent.

"We will now evaluate the size of the find and further development opportunities for Nucula," says StatoilHydro's head of exploration activities in the far north, Geir Richardsen.

The exploration well was not formation tested, but data has been gathered to be able to evaluate the size and extent of the find.
The well was concluded in early Triassic rocks at a vertical depth of 1,727 metres below sea level. Water depth at the location was 294 metres. The well has been permanently plugged and abandoned.

This is the second well in production licence 393, which was awarded in the 19th licensing round in 2006. The partners in the Nucula licence are: StatoilHydro (operator) (30%), ENI Norge (30%), BG Norge AS (20%) and Petoro (20%).

The drilling was carried out by the semi-submersible Polar Pioneer drilling rig, which is moving to production licence 228 to drill delineation well 7223/5-1 (Obesum 2) operated by StatoilHydro.

(www.statoilhydro.com)

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