Statoil set for King Lear 'second act'

'Your country needs...': King Lear production

related stories

By Steve Marshall & News reports

 08 September 2011 10:27 GMT

Norway’s state oil company Statoil is reported to be on the trail of another big prospect in the mature North Sea as the country battles to arrest declining production, which fell again last month.

Next up in the company’s exploration schedule, after its successful strike at Aldous Major South, is a well to be drilled at King Lear in the vicinity of the ConocoPhillips-operated veteran Ekofisk field, according to Norwegian business news website DN.no.

Statoil aims to drill towards the end of the year at King Lear - where hydrocarbons have already been proven in a well drilled by the former Saga Petroleum in 1989 - with estimated resource potential for the company said to be more than 100 million barrels of oil equivalent.

It will be…

Become an Upstream member!

Membership includes a subscription to our weekly newspaper providing in-depth news from the energy industry, plus full-access to this site and its archives. Still not convinced? Try our free trial.

Already a member?

Login

Upstream share price index