Statoil has made a third discovery of crude oil in the Flemish Pass Basin, offshore Newfoundland. The discovery was made on the Bay du Nord prospect (EL1112), located approximately 500 kilometers (311 miles) northeast of St. John’s, Newfoundland and Labrador, Canada.
This discovery is the second discovery for Statoil offshore Newfoundland this year. In June, a discovery was made at the Harpoon prospect, which is located approximately 10 kilometers from Bay du Nord.
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Statoil Exploration executive vice president Tim Dodson said that as the volumes of both the Bay du Nord and Harpoon wells continue to be evaluated, Statoil is developing a greater understanding of the geology and potential of the Flemish Pass basin.
The Bay du Nord and Harpoon wells were drilled by the semi-submersible rig West Aquarius, both in approximately 1,100 metres of water.
Bay du Nord is located about 20 kilometers south of Statoil’s Mizzen discovery. The Mizzen discovery, announced in 2010, is estimated to hold between 100-200 million barrels of oil.
Statoil is the operator of Bay du Nord and Harpoon with a 65% interest. Husky Energy has a 35% interest.