The oil column in appraisal well 16/2-10 is about 60 meters. Core samples have been collected from the entire reservoir interval and a comprehensive logging program has provided high quality data. The data confirms that the reservoir is of the same, excellent quality, as in the discovery well 16/2-8 on Aldous Major South. Based on this information, Statoil estimate that Aldous Major South contains between 900 and 1500 million barrels of recoverable oil, with a most likely volume of 1,2 billion barrels.

This is an exceptional result for Det norske. The company’s share of the 1.2 billion barrels is close to a quarter of a billion barrels. Based on today’s Brent oil price of USD 109, Det norske’s share alone represents 26 billion dollars in sales revenue.

“Aldous will tripple the company’s total contingent resource base, and it provides us with a solid base for further growth. This giant discovery has been made in shallow waters in the North Sea. Because of this, the value is particularly high, for us and our partners, and not least for the Norwegian society,” Det norske CEO Erik Haugane (picture) commented.   Aldous Major South is located in North Sea license PL 265 and well 16/2-10 is being drilled about 4.2 kilometers away from the discovery well 16/2-8. Det norske held a press conference today, press the picture to see a recording.

Se an interview with CEO Erik Haugane below:

About Det norske:

Det norske oljeselskap ASA (DETNOR) specialize in extracting petroleum resources on the Norwegian Continental Shelf (NCS). We are an ambitious company with significant exploration activity. Recently we have taken part in some major discoveries, Aldous being the single most important. We now face several development projects, among them Jette as operator, and Draupne.

Det norske has its headquarter located in Trondheim, and offices in Oslo and Harstad. As of today we are more than 160 employees.

Det norske is listed on the Oslo Stock Exchange with the ticker “DETNOR”.