Statoil has hit pay in wildcat wells 34/10-54 S and 34/10-54 A, which were drilled 6km north of the Valemon field in the northern Norwegian Sea. Preliminary estimates of the total size of the discoveries are between 20m-75m boe. Partners in the Valemon licence will consider tying the discoveries in to the Valemon field. The primary exploration target for the wells was to prove petroleum in a separate fault block in Middle and Lower Jurassic rocks (the Brent Group).
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