StatoilHydro assesses Peon development concept

StatoilHydro estimates that the shallow-water Peon gas discovery in the Norwegian North Sea holds recoverable resources of 15-30 billion cu m after plugging and abandoning an appraisal well there.

July 24, 2009

Uchenna Izundu
OGJ International Editor

LONDON, July 24 -- StatoilHydro estimates that the shallow-water Peon gas discovery in the Norwegian North Sea holds recoverable resources of 15-30 billion cu m after plugging and abandoning an appraisal well there.

The company hopes to bring the discovery, which was made in 2005, on stream by using new technology.

“We’re the first company to look at opportunities for commercial utilization of shallow gas,” said Finn Langgard, StatoilHydro’s project manager for Peon. “We’ve taken an important step forward with the present well in qualifying the solutions which will make it possible to recover Peon gas.”

The well was drilled by the Transocean Winner semisubmersible rig to a TVD of 640 m in 372 m of water.

The licensees in Production Licence 318 are StatoilHydro, operator with 60%, Petoro 20%, and Idemitsu Petroleum Norge 20%.

Contact Uchenna Izundu at [email protected].