Statoil - 1

Statoil has made a discovery at company-operated well 34/10-55 S in the North Sea, the Norwegian Petroleum Directorate (NPD) said. Drilled from the Gullfaks C platform to a structure east of the Gimle field, the well encountered a total oil and gas column of 557 ft, of which 196 ft are in sandstone with good to very good reservoir properties and 32 ft are in sandstone with moderate to good properties, the NPD said. The discovery holds an estimated 36 MMscf to 108 MMscf of recoverable oil equivalents and will be produced by a future Gullfaks C development well. Statoil has a 70% interest in the discovery, with the remaining share held by Petoro.