Statoil doubles Aldous expectations / News / The Foreigner

Statoil doubles Aldous expectations. Statoil says it has found twice the amount of oil at Aldous than the Norwegian company first estimated. Calling the additional oil volumes discovery at Aldous Major South (PL265) in the North Sea as “significant”, company spokesperson Tim Dodson says, “Aldous/Avaldsnes is a giant, and one of the largest finds ever on the Norwegian continental shelf. Volume estimates have now increased further because the appraisal well confirms a continuous, very good and thick reservoir in Aldous Major South.” Statoil originally forecast volumes were as high as 800 million barrels of recoverable oil equivalent. However, new 16/2-10 appraisal well estimates raise the PL265 production license to between 900 million and 1.5 billion barrels of recoverable oil equivalent.

statoil, aldousavaldsnesdiscovery, transoceanleader



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Statoil doubles Aldous expectations

Published on Friday, 21st October, 2011 at 11:38 under the news category, by Michael Sandelson   .

Statoil says it has found twice the amount of oil at Aldous than the Norwegian company first estimated.

Transocean Leader
Transocean Leader
Photo: Harald Pettersen/Statoil


Calling the additional oil volumes discovery at Aldous Major South (PL265) in the North Sea as “significant”, company spokesperson Tim Dodson says, “Aldous/Avaldsnes is a giant, and one of the largest finds ever on the Norwegian continental shelf. Volume estimates have now increased further because the appraisal well confirms a continuous, very good and thick reservoir in Aldous Major South.”

Statoil originally forecast volumes were as high as 800 million barrels of recoverable oil equivalent. However, new 16/2-10 appraisal well estimates raise the PL265 production license to between 900 million and 1.5 billion barrels of recoverable oil equivalent.

The Aldous/Avaldsnes area is estimated to be 180 square kilometres, and the company still has to confirm final combined volume calculations.

As operator in Aldous Major South, Statoil owns 40%, whilst partners Petoro AS, Det norske oljeselskap ASA and Lundin Norway AS have a respective share of 30, 20, and 10%.

Lundin Norway AS has a 40% interest in Avaldsnes as operator, with associates Statoil and Maersk owning 40% and 20%, respectively. Statoil believes Aldous/Avaldsnes production could start in 2017.

The ‘Transocean Leader’ drilling rig, currently located at the appraisal well, will relocate to the Troll field in the North Sea following completion.



Published on Friday, 21st October, 2011 at 11:38 under the news category, by Michael Sandelson   .

This post has the following tags: statoil, aldousavaldsnesdiscovery, transoceanleader.





  
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