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Statoil makes 'disappointing' gas discovery

Statoil makes 'disappointing' gas discovery
Gas discovery was made in Blamann well, between Snohvit and Goliat fields in Barents Sea


Norwegian Statoil and partners Petoro and Eni made a small gas discovery in the Barents Sea that transpired to have less volumes than originally anticipated, the company said Monday.

Statoil said that the gas discovery was made in the Blamann well, between the Snohvit and Goliat fields.

Recoverable volumes were estimated at 2-3 billion cubic meters, approximately 10-20 million barrels of oil equivalent.

"We were exploring for oil and this is not the result we were hoping for,” said Jez Averty, senior vice president for exploration in Norway and the U.K.

"However, this gas discovery has the potential to contribute to additional resources to the Snohvit project,” he noted

This is the second discovery in Statoil’s 2017 Barents Sea exploration campaign, following the Kayak oil discovery announced on July 3.

Statoil is the operator of the exploratory license in the discovered area.

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