SOUTHAMERICA: Statoil Drilled Well in Venezuela

Norway's Statoil has completed the drilling of Ballena, the second of the three wells that are part of the exploration campaign in Block 4 of Plataforma Delta, located offshore eastern Venezuela. Out of two intervals tested, one flowed gas at significant rates.

The Ballena well was drilled in 350 meters of water. No well has been drilled in deeper water in Venezuela to date.

The rig, Sovereign Explorer, will be moved to the next well location, Orca. This is the third and last well of the exploration campaign of the Block 4.

Plataforma Deltana Block 4 is a license awarded to Statoil by the Venezuelan government in 2003. Statoil, with a 51% interest, is the operator of the license in which Total has the remaining 49%.

PDVSA Gas has the option to participate up to 35 % once a commercial discovery has been declared.