Two years after the Valemon field came on stream on Statoil’s portfolio, the company has made a new gas discovery named the 'Valemon West field' in the North Sea, the company announced Friday.
According to the statement, the discovery is estimated to contain between 20 and 50 million barrels of oil equivalent.
This seventh exploration well was drilled 160 kilometers northwest of Bergen in Norway as part of production license 193 D, Valemon Unit.
Statoil’s Senior Vice President of operations west cluster, Gunnar Nakken, said the discovery is important for further developments of the field.
'These new reserves can be put on stream immediately and will add considerable value. The discovery proves that there are still good opportunities in the North Sea, an area we know well, and its infrastructure is extensive,' he said.
By Gulsen Cagatay
Anadolu Agency
gulsen.cagatay@aa.com.tr