Statoil discovery in the North Sea Valemon field

Published at 10:00AM - 11/04/14

Statoil, the Norwegian national energy company has announced a new oil and gas discovery within the Valemon Nord prospect, Norwegian sector North Sea.

The discovery made jointly with the Valemon Unit partners is located approximately 10 kilometres (6.2 miles) north of the Valemon field’s planned fixed platform that is due to start production in the fourth quarter of 2014, exporting rich produce to the Heimdal whilst condensate produce will be exported to the Kvitebjørn.

The drilling rig Transocean Leader, conducted drilling operations on both discovery wells 34/10-54 A and 34/10-54 S.

Statoil sources have stated that the main wellbore 34/10-54 S proved a gross 164 metre (538 feet) gas/condensate and oil column in the Middle Jurassic Brent Group, whilst the side-track 34/10-54 A proved a gross 100 metre (328 feet) gas/condensate column in the Brent Group and in sand of unspecified Jurassic age, and an additional gross 140 metre (459 feet) gas/condensate column in the Statfjord Group.

With gas/condensate also found in the middle Jurassic Cook Formation, total volumes in the Valemon North are estimated to be in the range of 20-75 million barrels of recoverable oil equivalent (o.e.), whilst the recoverable reserves of the entire Valemon field that was first discovered in 1985 are estimated to be 206 million barrels of oil equivalents.

Senior vice president exploration Norway in Statoil, Irene Rummelhoff said “We are very satisfied with making a new discovery in the close proximity of the Valemon gas and condensate field currently under development.  By proving additional volumes in the area we increase the reserves base in the Valemon Unit area and add value to the Valemon field development.”

Statoil is operator with an interest of 53.775%. The partners are Petoro AS (30%), Centrica Resources (Norge) AS (13%) and A/S Norske Shell (3.225%).

Last updated on 06:12PM - 03/06/14