Shell’s Gro Natural-Gas Find Off Norway Seen at Lower Range of Estimates
By Fred Pals and Marianne Stigset – // <![CDATA[// Aug 27, 2010 11:07 AMRoyal Dutch Shell Plcs deepwater appraisal well at the Gro natural-gas discovery indicated the find may be at the lower end of estimates, potentially denting plans for a new production hub in the Norwegian Sea.
The reservoir quality is poorer than expected, the Norwegian Petroleum Directorate said today in a statement. Preliminary estimates place the size of the discovery in the lower range of the original resource estimates.
The find at a depth of 1,300 meters (4,300 feet) was estimated to hold 10 billion to 100 billion cubic meters of gas. Norway, the worlds second-biggest gas exporter, is seeking to develop a center for production in the Norwegian Sea that also includes finds by Statoil ASA and Total SA. The country is seeking to raise gas production as North Sea oil fields are depleted after 40 years of production.