By Matt Grossman
ConocoPhillips Wednesday reported a new gas condensate discovery at a well drilled in the Norwegian Sea.
A discovery well, drilled to a total depth of 16,355 feet under 1,312 feet of water, found a reservoir that could produce between 50 million and 190 million barrels of recoverable oil equivalent, ConocoPhillips said. The Houston-based energy company owns a 65% working interest in the operating license through ConocoPhillips Skandinavia AS, while PGNiG Upstream Norway AS holds a 35% working interest.
The well is 22 miles northwest of the Heidrun Field and 150 miles from the Norwegian coast. ConocoPhillips said the site will be appraised to determine development plans.
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(END) Dow Jones Newswires