Statoil ASA, operator of production licence 265, has concluded the drilling of wildcat well 16/2-3 in the North Sea. The well is located 35 km east of the 15/3-1 Gudrun discovery in the central North Sea.

The objective of the well was to prove petroleum in a prospect called Ragnarrock in Upper Cretaceous reservoir rock. Light oil was proven in chalk rock in the Upper Cretaceous. A number of small-scale formation tests were conducted which showed limited flow properties. Extensive data and samples were collected and are now being analysed. Complex reservoir conditions have led the licencees to decide to drill an appraisal well on the structure. One will refrain from commenting on the size of the oil discovery pending this appraisal well.

This is the second exploration well in production licence 265. The licence was awarded in 2001 in connection with the North Sea Awards in 2000. The well was drilled to a vertical depth of 1856 meters below the sea surface and concluded in bedrock. Sea depth at the location is 113 meters. The well will now be permanently plugged and abandoned.

Well 16/2-3 was drilled by the West Epsilon drilling facility which will now drill well 16/2-4 in the same production licence in order to delimit the oil discovery.