Statoil said that for a long time the presence of hydrocarbons in the Shetland Group/Lista formation in the Gullfaks license has been known, but it was not developed due to the poor reservoir qualities.
A new well test in the interval however now indicates good flow rates.
Production well 34/10-A-8 on the Gullfaks A platform, where the well test is carried out, presently provides a high and stable production of 7,500 barrels/day.
The well has produced nearly one million barrels since December 2012.
Based on the evaluation of the initial formation testing and sampling, the discovery is estimated to hold between 40 million to 150 million recoverable barrels of oil equivalents.
Statoil Norway Development and Production executive vice president Øystein Michelsen said the discovery of oil provides the company with new volumes that may have high-value production and new perspectives for the field and the installations.
"This is a result of Statoil’s strategy for revitalisation of the Norwegian continental shelf," Michelsen added.
The licensees of the Gullfaks Field are operator Statoil with 70% interest and partner Petoro with 30% stake.
