By OGJ editors
HOUSTON, Aug. 8 -- Norway's Statoil ASA reported Friday that it spudded an oil discovery with its Ellida wildcat drilled in the Norwegian Sea on Block 6405/7. The Ellisa area is one of the company's natural gas prospects. Ellida is on the Continental Shelf 37 miles north off Ormen Lange gas field.
Statoil said that cores have been taken out and logging is being carried out on the discovery well, which was made in Cretaceous sandstones.
"It's positive that we've found oil," said Kent Høgseth, the company's exploration manager for the deepwater areas of the Norwegian Sea. "But I must emphasize that it's far too early to say anything about whether this can be produced or possible recoverable reserves."
"Norway has not had a significant oil discovery on the shelf since 1991's Norne field," noted Tyler Dann, Houston-based analyst with Banc of America Securities LLC, New York, in a research note released Friday.
The well is being drilled by the West Navigator rig in 1,200 m of water and is to be drilled to 4,000 m TD.
Statoil, with 30% interest, serves as operator for the production license on Block 6405/7. Other licensees are BP PLC 20%, Norway's Petoro AS 20%, Royal Dutch/Shell Group unit Norske Shell AS 20%, and ConocoPhillips 10%.
