Statoil, ENI Make Significant Discovery in Barents Sea

Italian energy company Eni says that a substantial oil and gas find has been made on the Havis field in the Barents Sea, about 200 km off the coast of Norway.

The prospect, drilled with the Havis 1 NFW exploration well to a depth of 1,750 metres, reveals gas at between 4 and 6 GScm (giga standard cubic metres) and recoverable oil at between 190 and 315 Mbbl.

Operator Statoil says that "Well 7220/7-1, drilled by the drilling rig Aker Barents, has proved a 48 metre gas column and a 128 metre oil column."

Statoil estimates the discovery will provide volumes of between 200 and 300 million barrels of oil equivalent.

Statoil holds a 50 per cent stake in the Havis field, while Eni's Norwegian subsidiary Eni Norge holds a 30 per cent stake. Norwegian Petero holds the remaining 20 per cent stake.