Statoil in 2011 found an estimated 540 million barrels of top-quality oil in the area and has since hectically tried to find additional resources in nearby wells. The company in 2011 called the discoveries a major breakthrough in the Barents Sea and “the most important discoveries on the Norwegian shelf over the last ten years”.
Since then however, only little additional hydrocarbons have been discovered in the area, despite several drilling operations in adjacent waters.
In the course of 2013, Statoil drilled wells at the Kramsnø, Iskrystall and Nunatak prospects without finding any significant volume of oil and gas. In the Skavl well, about 50 million barrels of oil equivalents were found. Also in the latest well, the Drivis, about 50 million barrels was discovered.
Statoil now intends to expand exploration in the area with drilling at the nearby Pingvin and Isfjell structures.
As previously reported, the disappointing results from the adjacent wells have made Statoil hesitant on how to approach the Castberg project. In 2013, the company said that it was postponing its decision on preferred field concept development. Despite pressure from the politicians, the company has hinted that it prefers a floating offshore development model, and not a landing of the resources.
According to Finnmark Dagblad, the Pingvin and Isfjell wells will be drilled next winter. The development concept for the Castberg project is expected to be announced already in June this year.