Statoil spuds first exploration well on North Sea Verdandi prospect

By OGJ editors

HOUSTON, May 22 -- Statoil ASA Thursday spudded the first exploration well to be drilled on its Verdandi prospect on Block 16/1, which lies about 25 km southwest of Norsk Hydro ASA's Grane field in the North Sea, the company reported.

The well is being drilled by the Borgland Dolphin drilling rig, which was converted by Fred Olsen Energy ASA unit Dolphin AS. Drilling of the well is expected to take 1 month.

"We are primarily looking for oil in this well," said Øivind Dahl-Stamnes, sector manager for Statoil's exploration Norway business cluster. He added that there is "much uncertainty" surrounding the potential for a discovery in the Verdandi prospect.

Statoil, as operator, holds an 80% stake in the license area, which was awarded in the 13th licensing round in 1991.