UPDATE 2-Statoil finalizes a 19-month exploration program offshore Newfoundland, confirms volumes

Fri Jun 10, 2016 3:37am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

(Adds Shell as partner)

June 10 (Reuters) - Statoil Asa :

* Statoil, along with its partners, has finalized a 19-month exploration Month exploration drilling program offshore Newfoundland

* The drilling program included four exploration wells in close vicinity of the 2013 Bay du Nord discovery, as well as three appraisal wells on the discovery. In addition, two exploration wells were drilled in areas outside the Bay du Nord discovery

* The appraisal and near-field exploration of the Bay du Nord discovery has reduced key reservoir uncertainties and confirmed that the volumes are within the original volume range of the 300 to 600 million barrels of recoverable oil initially estimated by Statoil in 2013, but potentially towards the lower end of the range

* Statoil's assessment of the commercial potential of the Bay du Nord discovery is ongoing

* Statoil's partners are Chevron, BP, Shell and Exxon Mobil Source text for Eikon: here

Further company coverage: (Reporting By Ole Petter Skonnord)