Natural Gas
Statoil & ptnrs. make small gas find in Barents Sea
- Statoil, OMV and Petoro are partners for the exploration license

Statoil, OMV and Petoro made a small gas discovery in the Gemini North well, in the Barents Sea, Norwegian Statoil announced on Monday.

The well was drilled in license PL 855, in which Statoil is operator with a 55 percent share.

OMV holds 25 percent share while Petoro holds 20 percent interest in this license.

"While this well proved a non-commercial gas discovery, the results provide grounds for cautious optimism for additional potential both within this license," said Jez Averty, senior vice president for exploration in Norway and the U.K.

Recoverable volumes are estimated between 0.4 and 1 billion standard cubic meters and approximately between 2 and 6 million barrels of oil equivalent.

In addition, there was proved oil, amounting to approximately 0.5 to 2 million barrels of recoverable oil.

This is the third discovery that Statoil made in its Barents Sea exploration campaign in 2017.

By Murat Temizer

Anadolu Agency

07 Aug,2017