Statoil has completed its 2014 exploration programme in the Hoop area of the Norwegian Barents Sea, without making any commercial discoveries.
Three exploration wells, the Mercury in PL614 and Atlantis and Apollo in PL615, were drilled during the summer.
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Atlantis and Mercury resulted in two small gas discoveries while a good reservoir was proved in the Apollo well without any hydrocarbons.
Statoil senior vice-president for exploration on the Norway continental shelf Irene Rummelhoff said: "We are naturally disappointed with the results of this summer’s drilling campaign in the Hoop area.
"However, it is important to understand that Hoop is a frontier area of more than 15,000km² with only six wells completed to date, so we do not have all the answers about the subsurface yet.
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"Non-commercial discoveries and dry wells are part of the game in frontier exploration; they provide important knowledge about the area."
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By GlobalDataThe company said it will now analyse the data acquired from the wells and incorporate it in subsurface models.
Rummelhoff added: "We have confirmed a working petroleum system in Hoop, but need to work further to understand the migration and where the oil has accumulated.
"We know from experience that exploring for hydrocarbons in the Barents Sea takes time and stamina."
Image: Map of the Hoop area. Photo: courtesy of Statoil.
