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Statoil hits more oil off Newfoundland

New discovery of light, high-quality oil in Flemish Pass Basin.


June 19, 2013
by PLANT STAFF

The Harpoon discovery was drilled by the semi-submersible rig, West Aquarius.
Photo: PRNewsFoto/Statoil

ST. JOHN’S, NL — Statoil has discovered light, high-quality oil in the Flemish Pass Basin, offshore of Newfoundland while drilling the Harpoon prospect about 500 kilometres northeast of St. John’s.

Harpoon, about 10 kilometres south-east of Statoil’s Mizzen discovery, which is estimated to hold between 100 and 200 million barrels of oil, was drilled by the semi-submersible rig West Aquarius in approximately 1,100 metres of water.

“While it is still too early to determine Harpoon’s resource potential, this is very encouraging for the area and especially for the Bay du Nord well planned for later this year,” says Erik Finnstrom, senior vice-president of the Norwegian oil company’s North American operation.

Finnstrom says the exploration strategy to test high-impact oil prospects in the Flemish Pass Basin is on target and the Harpoon results will contribute to a greater understanding of the area.

“We anticipate there will be further appraisal drilling to mature this discovery in the future. We will continue to build this area as a core exploration region for Statoil.”

Statoil is currently drilling its Federation prospect, located in the Jeanne d’Arc Basin off Newfoundland. The company will then return to the Flemish Pass Basin to drill the Bay du Nord prospect, which is located southwest of the Harpoon and Mizzen discoveries.

Statoil has a 65% interest in Harpoon with Husky Energy, which holds 35%.