Referring to the press release of 8^th August 2011, Det norske is pleased to provide an update on the resource estimate for the Aldous Major South discovery in the North Sea.

The Aldous Major South discovery well 16/2-8 discovered an estimated 200 to 400 million barrels of oil equivalent (mmboe). New figures from the operator indicate that the same structure could hold another 200 to 400 mmboe, thus representing a doubling of the previous estimate. The total new resource estimate for PL 265, exluding the Aldous Major North prospect, is thus 400 to 800 mmboe. Det norske holds 20 percent of this, corresponding to between 80 and 160 mmboe.

Furthermore the operator has confirmed that the reservoirs in Aldous Major South and Avaldsnes to the east are in communication. The combined resource estimate for Aldous Major South and Avaldsnes is now revised to 500 – 1 200 mmboe, which therefore could qualify the Aldous Major South/Avaldsnes discovery as being among the top ten biggest discoveries made on the Norwegian Continental Shelf.

The CEO of Det norske, Erik Haugane commented,

“This is obviously very good news and confirms Aldous Major South as a significant discovery on anyone’s yardstick. We have had an excellent 2011 in terms of exploration success. The doubling of estimated recoverable resources in Aldous Major South, which already was the biggest discovery in Det norske’s portfolio, clearly represent good value to our shareholders. It is amazing for a company of Det norske’s size to be part of a discovery which may qualify as being among the top ten biggest discoveries made on the Norwegian Continental Shelf”.

The partners in PL 265 are Det norske oljeselskap (20 procent), Statoil (40), Petoror (30) and Lundin Petroleum (10).

Related article:
High-impact oil discovery on Aldous

About Det norske: 

Det norske is the second-largest operating company on the Norwegian Continental Shelf both considering number of operatorships, exploration- and drilling activity. Det norske runs its activities in a safe and responsible manner in close cooperation with the authorities. Det norske will in 2011 participate in over 10 drilling operations as partner or as operator.

Det norske currently employs a staff of around 200. The company`s registered office is located in Trondheim. The company also has offices in Oslo, Harstad, and Stavanger. Det norske is listed on the Oslo Stock Exchange (DETNOR).