MOL Norge Finds Oil and Gas Off Stavanger

MOL Group’s wholly owned subsidiary MOL Norge and its joint venture partners have discovered oil and gas in an offshore field located about 200km west of Stavanger in the Norwegian part of the North Sea.

The exploration well in the 820S licence area was drilled to a maximum depth of 2,652 meters below sea level and oil and gas were found in a number of formations and were successfully tested for about 3,463 barrels of oil equivalent per day. The potential resources discovered in the main formation are between 12 and 71 million barrels of oil and gas equivalent.

MOL Norge with 40% working interest is the operator of the 820S license on behalf of partners Lundin Norway (40%), Wintershall Dea Norge (10%) and Pandion Energy (10%).

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