Statoil: only limited gas found in Barents Sea project.
(CercleFinance.com) - Statoil and its partners have found gas volumes that are not large enough for commercial development in the Korpfjell well in the Barents Sea southeast region, an area that was formerly disputed between Norway and Russia.
While the main purpose of the well was to prove whether there was any oil in this large geological structure, drilling has only revealed low gas volumes, the Norwegian energy firm said.
"The results are of course disappointing, but it is too early to draw any conclusions on how this will impact the Barents Sea southeast area," says Averty.
Statoil and its licence partners now plan to start analysing the data acquired.
Korpfjell - which has a structure of a size seldom seen on the Norwegian Continental Shelf - had prevously attracted much interest.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
While the main purpose of the well was to prove whether there was any oil in this large geological structure, drilling has only revealed low gas volumes, the Norwegian energy firm said.
"The results are of course disappointing, but it is too early to draw any conclusions on how this will impact the Barents Sea southeast area," says Averty.
Statoil and its licence partners now plan to start analysing the data acquired.
Korpfjell - which has a structure of a size seldom seen on the Norwegian Continental Shelf - had prevously attracted much interest.
Copyright (c) 2017 CercleFinance.com. All rights reserved.