OMV Announces Discovery in Norway’s Stø Formation

Austria-based OMV, through its subsidiary OMV (Norge) recorded a success in Norway’s offshore.

‘OMV (Norge) AS, operator of production license 537, is in the process of completing drilling of wildcat well 7324/7-2 Hanssen. The Hanssen discovery was made about 7 kilometers northwest of the 7324/8-1 Wisting Central oil discovery and about 315 kilometers north of Hammerfest,’ reads a note released by the company on Thursday.

According to preliminary calculations estimate by OMV, the Hanssen discovery in the Stø Formation should hold between 20 and 50 mn boe of recoverable resources, largely oil. 

"I am excited about the confirmation of the potential of the Wisting area. OMV’s strategy in establishing Norway as a core country for the exploration and production business is advancing very well", Jaap Huijskes, OMV Executive Board member responsible for Exploration and Production, commented. 

OMV (Norge) AS is the operator of the licence with 25% share. Its partners are Petoro, Idemitsu, Tullow (each 20%) and Statoil (15%).