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Statoil

Statoil has made a new gas discovery called Valemon West at the Valemon field offshore Norway, 2 years after the company-operated field began production. The recent discovery is estimated to contain between 20 million BOE and 50 million BOE, Statoil said. The well, which lies in the North Sea 100 miles northwest of Bergen, was drilled to a vertical depth of 14,229 ft below sea level. The company has a 53.775% interest in the discovery, with Petoro (30%), Centrica (13%), and Shell (3.225%) holding the remaining stakes.


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