EnergyWatch

Statoil finds oil on a sidetrack

The oil company discovered upwards of 130 million barrels of oil in the UK part of the North Sea, while drillings elsewhere have not been fruitful.

Together with partners Jersey Oil and Gas and Cieco, Statoil has found oil in the North Sea. Statoil has announced that a drilling in the Verbier field west of the Shetland Islands has uncovered an oil discovery of 25-130 million barrels of oil, according to preliminary results.

Meanwhile, the main drilling did not prove fruitful. There, Statoil – which operates and owns 70 percent of Verbier – encountered water-filled sand, prompting the company to drill a sidetrack to evaluate the remaining potential of the water-covered part of the reservoir, the updip.

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