Statoil sees more oil recovered at N.Sea Oseberg East field

OSLO, July 3 Thu Jul 3, 2014 5:20am EDT

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OSLO, July 3 (Reuters) - Norway's Statoil expects to increase oil recovery rate from Oseberg East field with a new drilling campaign, the company said on Thursday.

"We are expecting to increase the recovery rate on Oseberg East from around 20 percent to up to 30 percent when we drill the first planned wells," the company said in a statement, adding that potentially it could rise later to 40 percent.

Statoil, the operator of the field, has 49.3 percent in the exploration license. The other partners are state-owned Petoro with 33.6 percent, France's Total with 14.7 percent and ConocoPhillips with 2.4 percent.

Oseberg East holds about 6.6 million cubic meters (41.5 million barrels) of recoverable oil, data from Norwegian Petroleum Directorate shows. (Reporting by Nerijus Adomaitis, editing by Gwladys Fouche)

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