Statoil discovered hydrocarbons in the Valemon North prospect in the North Sea, 260 km west of Bergen, Norway. Well 34/10-54 S proved a gross 164-m gas condensate and oil column in the Middle Jurassic Brent group. Sidetrack 34/10-54 A proved a gross 100-m gas condensate column in the Brent group and in sand of unspecified Jurassic age, and an additional gross 140-m gas condensate column in the Statfjord group. Gas condensate also was found in the Middle Jurassic Cook formation. Statoil estimates the total volumes in Valemon North to be 20 to 75 million bbl of recoverable oil equivalent. Statoil is the operator (53.775%), with Petoro(30%), Centrica Resources (13%), and Norske Shell(3.225%).
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