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BG and Premier in North Sea oil find
Wed, 08 Feb, 2012
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BG and Premier in North Sea oil find
Thu, 11 Mar 2010, 08:32:00
<b>Premier Oil</b> has found oil at its wildcat well 34/5-1 S on the Norwegian Blåbaer exploration, near the Snorre field in the North Sea, although another target area turned out to be dry. BG Norge AS, operator of production licence 374 S, discovered oil in the Lower Jurassic reservoir rocks (the Cook formation), but not in the Lower Jurassic to Upper Triassic reservoir rocks (the Statfjord formation). Premier said the licensees will consider the resource potential by drilling an appraisal well as a sidetrack from well 34/5-1 S, which will then be permanently plugged and abandoned. The UK-listed firm holds 15% equity in the Blocks 34/2c and 34/5c which contain the Blåbaer prospect, BG has 45%, Wintershall 20% and Petoro AS 20%.
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