Sub-commercial oil find in GoM for Statoil

Norwegian oil giant Statoil has made a small discovery in its Martin prospect located in the Gulf of Mexico (GoM).

Statoil has said that it does not consider this to be a commercial discovery. The well has been drilled efficiently and plug and abandonment operations (P&A) are now ongoing.

Once P&A operations are completed the Maersk Developer semi-submersible drilling rig will move to the impact Perseus prospect in De Soto Canyon (DC) 231.

Statoil is the operator (42.5%) of Martin, and its partners include Nexen (25%) and LLOG (26%).