Partners drilling the Volve South prospect offshore Norway said on Friday their well found no oil and gas despite drilling to total depth of over four kilometres.
It was the first exploration well at Volve South, where three prospects offer tie-back options to the producing Volve main field.
Operator StatoilHydro had a 60 percent in well 15/9-F-15 S, but other stakeholders in production licence PL 046 are P.A. Resources (10 percent), ExxonMobil (30 percent).
P.A. Resources, however, has sold its Norway operation to a business of German gas giant Bayerngas GmbH. Bayerngas Norge will take over in PL 046 on New Year’s Day 2009.
Some wells in Norway can cost over $80 million to drill, and a dry offshore well is not taken lightly. But soaring German gas prices has put pressure on producers in Europe’s most populous country to find gas whereiver it might be.
E.ON Ruhrgas, Verbundneftegaz and Bayerngas are not players off Norway and drill bit success could translate into more sales to gas buyers at home in Germany.
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