Now it seems a more realistic view is 80 million barrels, 45% lower. Upstream understands that Siri-3, the second of two back-to-back appraisal wells this summer, failed to prove an easterly extension of the Palaeocene sandstone reservoir. It did find a small separate accumulation. Kjell Ravndal, Statoil's production manager in Denmark, refused to comment on current reserves estimates but conceded drilling results were more complex than expected .
Disappointed Statoil to downgrade Siri field
NORWEGIAN state oil company Statoil is expected to downgrade substantially reserves in the Danish oilfield Siri following recent disappointing drilling. Last year's discovery was hailed as Denmark's largest since 1977 and Statoil announced recoverable reserves of 145 million barrels.
12 November 1996 0:00 GMT
Updated
12 November 1996 0:00 GMT