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Det Norske Oljeselskap ASA : Oil and gas discovery at Gina Krog East 3

07/01/2015 | 02:33am US/Eastern

Det norske oljeselskap ASA, partner in the Gina Krog Unit in the North Sea, announces that drilling of exploration well 15/6-13 with two sidetracks, 15/6-13 A and 15/6-13 B exploring the East 3 segment is about to be completed.

The wells encountered gas and oil in both the Hugin and Sleipner formations. The total gas column in the Hugin formation is estimated to be approximately 150 meters and the oil column is evaluated to be approximately 150 meters. This results in a total hydrocarbon column height of approximately 300 meters, with good reservoir properties.

An extensive data acquisition program was carried out in the reservoir sections. Initial analysis indicates the wells have proven in the range of 6 - 13 million barrels of oil equivalent recoverable. Additional volumes in the Sleipner formation will be further evaluated by the Gina Krog Unit. Further studies will be undertaken to evaluate if the discovery can be produced as part of a future area development solution.

Det norske holds a 3.3 percent working interest in the Gina Krog Unit. Statoil Petroleum AS is the operator with 58.7 percent working interest. Total E&P Norge AS is partner with 30 percent working interest and PGNiG Upstream International AS is partner with 8 percent working interest.

For more information, please find the release from the Norwegian Petroleum Directorate here (http://npd.no/en/news/Exploration-drilling-results/2015/156-13-156-13-A-and-156-13-B/).

Contacts:
Investor contact: Jonas Gamre, VP Investor Relations, tel.: 47 971 18 292
Media contact: Rolf Jarle Brøske, SVP Communications, tel.: 47 911 12 475

About Det norske:
Det norske is a fully-fledged E&P company with exploration, development and production activities on the Norwegian Continental Shelf (NCS). We are building one of Europe's largest independent E&P companies.

Det norske is the operator of the producing Alvheim field and for the Ivar Aasen field development. In addition, the company is partner in the Johan Sverdrup field. Det norske has an active exploration programme on the Norwegian shelf and an ambitious strategy for growth.

Det norske's headquarters are located in Trondheim, with branch offices in Stavanger, Oslo and Harstad. Det norske is listed on Oslo Børs with ticker `DETNOR'. More about Det norske at www.detnor.no/en/.

http://news.cision.com/det-norske-oljeselskap-asa/r/oil-and-gas-discovery-at-gina-krog-east-3,c9799749

http://mb.cision.com/Main/1629/9799749/397729.pdf

(c) 2015 Cision. All rights reserved., source Press Releases - English

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