Location of Kayak in the Barents Sea.
Image: Statoil

Commercial discovery in Kayak

Location of Kayak in the Barents Sea. Image: Statoil

WellBet community was right, but not quite

July 3, 2017

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Statoil and partners Eni and Petoro have made an oil discovery in the Kayak well. The discovery is considered commercial.

Statoil’s estimations range from 25 and 50 million barrels of recoverable oil equivalents. The Kayak well has thus proven resources in a type of play that has not been explored before. It may add valuable volumes for the Johan Castberg development.

The WellBet Community was correct in predicting a discovery with a very clear majority of 87%. However, the participants were exactly undecided (50/50) whether the discovery is going to be commercial. Interestingly, 16% were correct in the prediction of the discovery of oil only, while more than half of the participants (56%) did expect oil and gas.

Follow the Geobuzz link to see the detailed results of this WellBet.

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