Statoil: Valkyrie well disappoints

A wildcat on the Valkyrie structure close to the Statoil-operated Norne field in the Norwegian Sea has been completed without yielding commercial hydrocarbons.

The Norne production ship ranks as one of the most profitable units on the Norwegian continental shelf, and great expectations have been aroused for continued development of the area. Oil was found two years ago in the Linerle and Falk structures, and a discovery in Valkyrie would have further strengthened the local resource base.