North extension of Aldous Major South confirmed

A group led by Statoil ASA has confirmed a northern extension of the Aldous Major South structure in the North Sea off Norway.

The 16/2-10 appraisal well proved a 50-55 m oil column in Jurassic sandstone, further confirming Statoil’s preliminary figure of 400-800 million bbl of oil equivalent recoverable on the structure in PL 265. Statoil is to update the estimate after it analyzes the well data.

The 16/2-10 well is 4.2 km north of the 16-2/8 discovery well on the Utsira high. It is the sixth exploratory well in the license. Statoil is operator of PL 265 with 40% interest. Partners are Petoro AS 30%, Det norske oljeselskap ASA 20%, and Lundin Norway AS 10%.

The Aldous Major South discovery is an extension of the Avaldsnes discovery made by Lundin Petroleum AB in PL 501.

Lundin Petroleum has updated its gross contingent resource estimate for the Avaldsnes discovery to be 800 million bbl to 1.8 billion bbl of recoverable oil. The Avaldsnes-Aldous Major South discovery is therefore estimated to contain gross contingent resources of 1.2-2.6 billion bbl of recoverable oil.

Lundin Petroleum is the operator of PL 501 with 40% interest, Statoil has 40%, and Maersk Oil Norway AS has 20%.

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