22 August 2014, News Wires – Statoil has been given the go-ahead by Norwegian authorities to drill a wildcat at the Isfjell prospect in the Barents Sea using semi-submersible rig Transocean Spitsbergen.
The 7720/2-1 well will be drilled in a water depth of 426 metres in Statoil-operated production licence 714 at a location 35 kilometres north of the company’s Johan Castberg discovery once the rig has wrapped up an ongoing probe at the Pingvin prospectto the west of the find.
Drilling is scheduled to start at the earliest in October and have an estimated duration of 30 days, though another Barents probe at the Saturn prospect is targeted around the same time using the same rig that has been keeping busy on a series of wildcats in the Arctic region this year.
Statoil is carrying out an intensive drilling campaign with the aim of proving up additional hydrocarbon resources in the vicinity of Johan Castberg to shore up the economics of a proposed development, with a concept due to be decided next summer.
The Norwegian state-owned company operates PL714 with a 50% stake, with compatriot Petoro on 20% and Italy’s Eni on 30%.