Statoil has made a significant gas and condensate discovery in the King Lear prospect in the southern part of the Norwegian North Sea along with its partner Total E&P Norge.

Exploration well 2/4-21 drilled by the jack-up rig Maersk Gallant in production licences 146 and 333, has proven a 48-metre gas/condensate column in the main bore 2/4-21 and an additional 70-metre gas/condensate column in the side-track 2/4-21A. Statoil estimates the total volumes in King Lear to be between 70 and 200 million barrels of recoverable oil equivalent (o.e.).

“Statoil had earlier defined King Lear as a potential high-impact prospect. The drill results confirm our expectations and show once again that the Norwegian continental shelf still delivers high value barrels,” says Gro Gunleiksrud Haatvedt , senior vice president exploration Norway in Statoil.

Tags: Statoil