Enterprise Oil PLC
7 June 2001
For immediate release: Thursday, 7 June 2001
Enterprise Oil announces successful Skarv appraisal
Enterprise Oil today announced the successful completion of its Norwegian
Skarv appraisal well, drilled some 6.5 kilometres south-west of the original
1998 discovery well.
The well encountered gas and oil, and in a separate sidetrack extended the oil
column in the fault block thereby proving additional reserves. Logs and
samples have been obtained from the well which has been suspended to allow a
possible re-entry for production testing.
John Crowle, General Manager EONL, commented: 'Skarv is a significant asset
for Enterprise in Norway and the results are very encouraging. This is our
second successful appraisal in the Norwegian Sea in less than a week following
the Svale appraisal well, and clearly demonstrates the prospectivity of the
area in which EONL has a strong presence. We will now evaluate the data from
Skarv and Svale and examine development options for both fields, though the
recent wells on both discoveries have increased our confidence in their
potential value.'
Licence holders in PL 212 (Skarv) are:
Enterprise Oil Norge Ltd 25 per cent
BP Amoco Norge AS (operator) 30 per cent
Statoil 30 per cent
ExxonMobil 15 per cent
Licence holders in PL 128 (Svale) are:
Enterprise Oil Norge Ltd 10 per cent
Statoil (Operator) 40 per cent
Norsk Hydro 13.5 per cent
Petoro (formerly SDFI) 25 per cent
Agip 11.5 per cent
Ends.
For further information please contact:
Peter Reilly, Head of Investor Relations 020 7925 4476
Patrick d'Ancona, Head of Public Relations 020 7925 4160
John Crowle, General Manager, EONL 00 47 5184 3051
Notes to Editors
Skarv
The Skarv oil and gas discovery was made in April 1998 and extended the
southern boundary of the hydrocarbon trend which now encompasses the Idun
discovery made in 1999, and the Snadd, Svale and Falk discoveries of 2000.
The Skarv appraisal well was drilled by the 'Stena Dee' rig, which has moved
on to drill West of Shetland.
Svale
The Svale discovery was made in May 2000 and is located some 175 kilometres
from the Norwegian coast, close to the Norne field.
The appraisal well (6605/10-7) was drilled by the Borgland Dolphin in water
depth of 377 metres.
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