Statoil says Geitungen prospect could be linked to Johan Sverdrup

OSLO Aug 27 (Reuters) - Statoil said on Monday the reserves at the Geitungen prospect on Utsira High in the North Sea could be linked to the giant Johan Sverdrup find, the company said on Monday.

"Well data indicate that there probably is communication between the two discoveries," Statoil said.

Statoil estimates the volumes in Geitungen to be between 140 and 270 million barrels of recoverable oil equivalents (boe). The prospect was drilled approximately three kilometres north of the Johan Sverdrup discovery, currently estimated to hold 1.7 to 3.3 billion barrels of oil.

The Geitungen discovery was announced on Aug. 17, and the reserves was at that time estimated at between 100 million and 300 million boe.

Statoil is operator for production licence 265 with an ownership share of 40 percent interest. The licence partners are state-owned Petoro (30 percent), Det norske oljeselskap (20 percent) and Lundin Petroleum (10 percent). (Reporting By Victoria Klesty)