A new oil discovery has been made by Statoil in the Ragnarrock prospect near the Sleipner area in the North Sea.

"It is encouraging that Statoil has made an oil discovery in a little-explored exploration model that is close to our North Sea infrastructure," says Frode Fasteland, acting exploration manager for the North Sea.

The find was made in exploration well 16/2-3 in production licence 265, which lies 35 kilometres east of the Statoil-operated Gudrun discovery.

"The oil was proven in Cretaceous rocks with complex reservoir conditions," says Mr Fasteland.
"Together with our partners in the licence we have therefore decided to drill the appraisal well 16/2-4 in the structure when the first well is completed."

Statoil has carried out an extensive compilation of data and taken samples which will be analysed.

The well was drilled to a total depth of 1,856 metres below sea level. The water depth in the area is 113 metres. The exploration well is now being permanently plugged and abandoned by the West Epsilon jack-up rig.

This is the fifth exploration well drilled by West Epsilon for Statoil this year and hydrocarbons have been proven in all of the wells.

The licensees are Statoil, operator, with 30%, Petoro (30%), Den norske Oljeselskap ASA ( 30%) and Talisman (10%).