Pingvin discovery

Completed drilling of exploration in PL 713

Edison International Norway branch as a partner in PL 713 has completed drilling of exploration well 7319/12-1 in the Pingvin prospect in the Barents Sea. The well proved a 14-metre gas column in well and a total gas column of about 129 meters.

The discovery has opened a new play in a frontier unexplored area of the Barents Sea about 65 km northwest of Johan Castberg.

The well was drilled to a vertical depth of 1500 metres below the sea surface in Lower Paleocene/Cretaceous rocks. Water depth at the site is 422 metres. The well has been permanently plugged and abandoned. Well 7319/12-1 was drilled by the Transocean Spitsbergen drilling facility.

Although the discovery is currently assessed as non-commercial it is encouraging that the first well drilled in this unexplored area has proven hydrocarbons in sandstones.

The partners in the license are Statoil as operator (40%), RN Nordic Oil AS (20%), North Energy ASA (20%) and Edison International Norway Branch (20%).

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