Det norske oljeselskap ASA, partner in PL035/272, announces that drilling of appraisal well 30/11-10 A on the Krafla discovery is about to be completed. Following this well, the updated resource estimate for Krafla Main is 50 to 82 million barrels of oil equivalents.

Appraisal well 30/11-10 A was drilled about one kilometer northwest of the Krafla Main discovery well (30/11-8 S) from 2011. Well 30/11-10 A encountered a gross oil column of 260 meters and net reservoir of 85 meters in the upper and middle Tarbert formation with good reservoir properties. The well was not formation tested, but extensive data collection and sampling were carried out.

Since 2011, five discoveries have been made in the Krafla area in licences PL035 and PL272: Krafla Main, Krafla West, Askja West, Askja East and Krafla North. Based on well results and updated evaluations of the licenses, recoverable resources in the two licenses is expected to be in a range of 140-220 million barrels of oil equivalent.

Det norske holds a 25 percent working interest in PL035 and PL272. Statoil Petroleum AS is the operator with 50 percent working interest and Svenska Exploration AS is partner with 25 percent.

About Det Norske

Det norske oljeselskap ASA (DETNOR) specialize in extracting petroleum resources on the Norwegian Continental Shelf (NCS). We are an ambitious company with significant exploration activity. Recently we have taken part in some major discoveries, Sverdrup being the single most important. During the first quarter of 2013 we will start producing our first own oil from Jette – the company’s first development as operator. Det norske has recently submitted Plan for Development and Operation (PDO) for the Ivar Aasen field to the authorities.

About Statoil

Statoil ASA (OSE: STL, NYSE: STO) is an international energy company with operations in 36 countries.
Building on 40 years of experience from oil and gas production on the Norwegian continental shelf, we are committed to accommodating the world's energy needs in a responsible manner, applying technology and creating innovative business solutions. We are headquartered in Stavanger, Norway, with approximately 23,000 employees worldwide, and are listed on the Oslo and New York stock exchanges.