Successful appraisal of the Krafla discovery

Det norske oljeselskap ASA, partner in PL035/272, announces that drilling of appraisal well 30/11-10 A on the Krafla discovery is about to be completed. Following this well, the updated resource estimate for Krafla Main is 50 to 82 million barrels of oil equivalents.

Appraisal well 30/11-10 A was drilled about one kilometer northwest of the Krafla Main discovery well (30/11-8 S) from 2011. Well 30/11-10 A encountered a gross oil column of 260 meters and net reservoir of 85 meters in the upper and middle Tarbert formation with good reservoir properties. The well was not formation tested, but extensive data collection and sampling were carried out.

Since 2011, five discoveries have been made in the Krafla area in licences PL035 and PL272: Krafla Main, Krafla West, Askja West, Askja East and Krafla North. Based on well results and updated evaluations of the licenses, recoverable resources in the two licenses are expected to be in a range of 140-220 million barrels of oil equivalent.

Det norske holds a 25 percent working interest in PL035 and PL272. Statoil Petroleum AS is the operator with 50 percent working interest and Svenska Exploration AS is partner with 25 percent.