Statoil informed that together with its PL146/PL333 partner Total E&P Norge it has made a gas and condensate discovery in the Julius prospect in the King Lear area in the North Sea.
The discovery well 2/4-23S, drilled by Maersk Gallant, proved gas and condensate in the Ula formation, the company said in a statement.
Statoil estimates the volumes in Julius to be between 15 and 75 million barrels of recoverable oil equivalent.
The well 2/4-23S aimed also to appraise the King Lear gas and condensate discovery made by the PL146/PL333 partnership in 2012.
The well provided important information on reservoir distribution and reservoir communication in the King Lear discovery. The acquired data will now be further analysed.
It is expected that the King Lear volumes will stay within the previously communicated range of 70-200 million barrels of recoverable oil equivalent.
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Image: Maersk