2 discoveries made in offshore N.L. drilling program: Statoil

300-600 million barrels of recoverable oil in Bay du Nord area wells

Published on June 10, 2016

Statoil announced Friday morning that its 19-month drilling program offshore Newfoundland has resulted in two oil discoveries.

The Seadrill West Hercules drilled nine wells in the Flemish Pass Basin (around 500 km east of St. John’s) during this program, which began in November 2014. They include four exploration wells near the 2013 Bay du Nord discovery; three appraisal wells on the discovery; and two exploration wells outside the discovery.

The new discoveries were made at the Bay de Verde and Baccalieu prospects in the Bay du Nord area. .

“The appraisal and near-field exploration of the Bay du Nord discovery has reduced key reservoir uncertainties and confirmed that the volumes are within the original volume range of the 300 to 600 million barrels of recoverable oil initially estimated by Statoil in 2013, but potentially towards the lower end of the range,” reads a news release from Statoil.

Erling Vågnes, senior vice-president of Statoil Exploration, Northern Hemisphere, said they’re very encouraged by the discoveries and results of the appraisal wells.

“Based on the improved understanding of the Flemish Pass Basin petroleum system, we are maturing further prospects that may add volumes to Bay du Nord,” he said.

“The Flemish Pass Basin offshore Newfoundland is a frontier area, where only 17 wells have been drilled in the entire basin – in an area that is 30,000 km2,”said Vågnes. “This drilling campaign has been critical both to maturing the Bay du Nord discovery as well as evolving our knowledge of the greater basin and Newfoundland offshore – which remains a core exploration area for Statoil.”

Statoil Canada president Paul Fulton added: “The recent drilling program has been critical to Statoil’s continued assessment of Bay du Nord, and work is underway to evaluate the results related to proceeding with a potential Statoil-operated development in the Flemish Pass Basin.”