Norwegian energy giant and LNG player Statoil has made a gas discovery at the Valemon field in the North Sea, two years after Valemon came on stream.
The discovery is estimated to contain between 20 and 50 million barrels of oil equivalent, Statoil said on Friday.
The well was drilled 160 kilometres north-west of Bergen. This is the seventh exploration well that is being drilled in production licence 193 D, Valemon Unit.
The exploration well was drilled from Valemon by the jackup rig West Elara to a vertical depth of 4,337 metres below sea level. Water depth in the area is 133.5 metres. The well is currently being completed and put on stream from the Valemon platform.
The Valemon Unit partners are Statoil (operator, 53.775%), Petoro (30%), Centrica (13%) and Shell (3.225%).