Statoil Makes 2nd Barents Gas Find of 2017

Statoil said August 7 that it and partners OMV and Petoro have made a small gas discovery in the Gemini North well, northeast of the Wisting discovery in the Barents Sea on licence PL 855. The well also proved oil. It was the first well drilled in the acreage awarded in Norway’s 23rd licensing round. 

The discovery in the Hoop area, 30-35 kilometers northeast of the Wisting discovery, contains recoverable volumes estimated at 0.4-1bn m3 –  0.5 to 2 million barrels of recoverable oil.

This is the third discovery in Statoil’s 2017 Barents Sea exploration campaign, following the Kayak oil discovery announced on 3 July and the Blamann gas discovery announced on 17 July. “The discovery is not profitable as of today,” said upstream regulator NPD.

PL855 licensees are Statoil (operator) 55%, OMV 25% and Norwegian state holding Petoro 20%, while those on PL859 are Statoil (operator) 30%, Chevron and Petoro 20% each, with Lundin and ConocoPhillips each 15%.

Statoil has discovered gas in the past in the Barents Sea, not least the Snohvit field that it developed into an LNG venture - but so far Gemini North is much smaller.

Gemini North gas find in the Barents Sea (Map credit: Statoil)

Mark Smedley