Statoil comes up short at Korpfjell
Norwegian energy company and LNG operator Statoil and its partners have made a small, non-commercial gas find in the Korpfjell well in the Barents Sea.
Korpfjell is the first exploration well drilled in the Norwegian section of a formerly disputed area between Norway and Russia.
The main purpose of the well was to prove whether there was any oil in the large geological structure on Korpfjell.
The drilling has only proven small gas volumes, with the gas discovery is estimated to contain 40-75 million barrels of recoverable oil equivalents (6-12 billion standard cubic metres of gas), but the volume is not large enough for a commercial development.
Statoil and its licence partners will now start analysing the well data acquired.
“The results are of course disappointing, but it is too early to draw any conclusions on how this will impact the Barents Sea southeast area,” says Jez Averty, Statoil’s head of exploration in Norway and the UK.
Statoil is planning both operated wells and participation in partner-operated wells in the Barents Sea southeast area in 2018. These plans also include drilling the second commitment well in the Korpfjell license PL 859.
Statoil’s partners in Korpfjell are Chevron, Petoro, Lundin Norway and ConocoPhillips.