New Discovery in GOM, Vito Appraisal

Tuesday, March 23, 2010

Statoil USA E&P Inc. announced that the Shell operated Vito appraisal well in deep water Gulf of Mexico has encountered more than 600 net feet of high-quality oil pay in thick subsalt Miocene sands. This sidetrack appraisal well, which is located in Mississippi Canyon block 940, is more than one mile from the 2009 Vito discovery well. Statoil holds a 25% working interest in the block.

“The Vito oil discovery is located in an area of good reservoir development within the Miocene play. In addition to our participation in other large discoveries in this play, Statoil plans to test several new Miocene exploration opportunities through its current operated drilling campaign,” said Helen Butcher, head of Gulf of Mexico Exploration.

“The Vito appraisal wells are exciting steps leading towards a possible new deepwater field development,” she added. The Vito appraisal well was drilled to a total depth of approximately 32,000 feet in approximately 4,050 feet of water. Another sidetrack appraisal well is planned for 2010 to further delineate the discovery.  Shell Offshore Inc. (operator) holds a 55% working interest in the discovery, Anadarko Petroleum Corporation 20% and Statoil the remaining 25%.

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