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Amerada Hess Corporation (NYSE: AHC), on behalf of the partners in UK continental
shelf license P1029, announced today that well 204/16-1 spudded by the West
Navion drillship on September 1, 2002 in the Faroe-Shetland Trough in the North
Atlantic was plugged and abandoned on October 17, 2002 after a 47 day operation.
Well 204/16-1 was an appraisal of the Faroese 6004/16-1Z untested oil and gas
discovery drilled in 2001.
The 204/16-1 well was drilled to a total depth of 4275 meters, equivalent to
4239 meters true vertical depth sub-sea in Upper Cretaceous shales. The well
encountered hydrocarbons but not in sufficient quantities to justify a drill
stem test.
Post-drill evaluation and an assessment of the impact of the results of the
204/16-1 well will be assisted by recently acquired proprietary 3D seismic data
over both the 204/16-1 location and the Faroese discovery well 6004/16-1Z. Further
appraisal of the hydrocarbon accumulations encountered in the 204/16-1 and 6004/16-1Z
wells will be based upon the results of the evaluation and assessment which
will be completed in 2003.
Partners in License P1029 covering Block 204/16 are as follows:
| Interest (%) | ||
| Amerada Hess | 42.57 | |
| BG (with reference to Premier deal) | 39.60* | |
| DONG | 16.83 | |
| Atlantic Petroleum | 1.00 |
* Premier Oil has farmed in to 16% of BG's equity in license P1029 through
funding of the 204/16-1 well.
Contact: Amerada Hess Corporation.......C.T. Tursi (212) 536-8593