Statoil discovered “substantial” additional oil volumes near its Grane field in the North Sea.
Well 25/8-18 S proved an oil column of 82 feet in the Heimdal Formation, Statoil said Tuesday.
The estimated volume of the discovery ranges between 30 to 80 million barrels of recoverable oil.
When the Grane field came on stream in 2003 its recoverable reserves were estimated at 700 million barrels of oil.
Well 25/8-18 S appraised the D-structure, about four miles north of the Grane field and in the immediate proximity of the Grane F oil discovery.
The discovery is part of a recent re-evaluation of the Grane area undertaken by Statoil and its partners, Petoro and ExxonMobil.
Statoil is evaluating development solutions for the find including tying the well into the Grane field.
Well 25/8-18 S was drilled by the Transocean Leader rig and is located in license PL169 in the North Sea.
Statoil is operator of the well with an interest of 57 percent. Norway-based Petoro holds a 30 percent interest and ExxonMobil Exploration & Production Norway holds a 13 percent.
“Near-field exploration is an important part of Statoil’s exploration portfolio on the NCS. It provides high-value barrels that are important for extending the production life of existing installations,” Statoil vice president for exploration in the North Sea May-Liss Hauknes said.