Statoil said on Friday it has made an oil and gas discovery of up to 63 million bbl of recoverable oil equivalent.
The find is located at the Drivis prospect of the Johan Castberg area in the Barents Sea.
Senior vice president for exploration in Norway, Irene Rummelhoff, said despite this discovery, the Johan Castberg area campaign had not delivered in terms of volumes.
This well marks the conclusion for Statoil’s 12-month, five-well exploration campaign in the Johan Castberg area.
“Over the past year we have made a significant exploration effort in the Johan Castberg area. Five wells have been drilled back-to-back, giving us important subsurface information and a good understanding of the total resource base in the area,” said Rummelhoff.