Statoil has together with partners in PL348/348B made an oil discovery in the Snilehorn prospect in the Norwegian Sea, approximately fifteen kilometres northeast of the Njord field.

This is the third near-field discovery in the Norwegian Sea in three months.

Exploration well 6407/8-6 and sidetrack 6407/8-6A, drilled by the Songa Trym drilling rig, have proven several oil columns in formations dating from the Jurassic period.

The main wellbore has also proven oil at a deeper level, in reservoir rocks of Triassic age, probably Grey Beds formation. Further data analysis will clarify the age of this oil bearing formation.

The estimated volume of the discovery is in the range of 55 - 100 million barrels of recoverable oil. This is light oil of high quality.

"We are very pleased with the results of our near-field exploration programme in the Norwegian Sea this year," says Gro G. Haatvedt, Statoil senior vice president for exploration on the Norwegian continental shelf.

Tags: Statoil