Petoro - a driving force on the Norwegian continental shelf

SDFI and Petoro annual report 2013

Directors’ report 2013

Exploration activity

Petoro was involved in 23 of 59 completed wildcat and appraisal wells. A total of 20 new discoveries were made - five in the Barents Sea, eight in the Norwegian Sea and seven in North Sea, and Petoro was a participant in 11 of these.
Much of the exploration activity was directed at understanding the resource potential of Johan Sverdrup and ensuring the best possible development solution for this field. A total of 11 exploration wells were drilled in the two main licences, PLs 265 and 501, during 2013. In addition, an exploration well was drilled in PL 502.
A very promising discovery, Wisting Central, was made in the Hoop area of the Barents Sea. This opens a number of new exploration opportunities in the central and north-western parts of this region.
Three exploration wells were drilled in the area around Johan Castberg, resulting in two small gas discoveries and one minor oil find. These will be viewed in relation to the Skrugard and Havis discoveries in connection with the choice of concept for Johan Castberg in 2014. Before this choice, two new exploration wells will be drilled in 2014.
Allocations in the awards in predefined areas (APA) and the regular 22nd licensing round in 2013 added interests in 25 new production licences to the SDFI portfolio. A large proportion of these are in the Barents Sea.