Statoil Reports Gas Discovery near Valemon Field in North Sea

Norway’s Statoil reported gas and oil discoveries near the Valemon field in the North Sea. The company concluded the drilling of wildcat wells 34/10-54 S and 34/10-54 A.

“We are very satisfied with making a new discovery in the close proximity of the Valemon gas and condensate field currently under development,” Irene Rummelhoff, senior vice president exploration Norway in Statoil, said in a note released on Friday. 

The Valemon field, discovered in 1985, is one of Statoil’s largest on-going development projects on the Norwegian continental shelf.

“By proving additional volumes in the area we increase the reserves base in the Valemon Unit area and add value to the Valemon field development,” Rummelhoff explained. 

The wells were not formation tested, but comprehensive data acquisition and sampling were carried out.

'Preliminary estimates of the total size of the discoveries are between 3 and 12 million Sm³ of recoverable oil equivalents. The Valemon Unit licensees will consider tying the discoveries in to the Valemon field,’ reads a note released by the Norwegian Petroleum Directorate.