Well 16/2-6 (Avaldsnes) proved oil in a 17 meter column in sandstones of the Draupne (Upper Jurassic) and Hugin Formation (Middle Jurassic). The reservoir has exceptionally good reservoir properties and production tests show very good flow properties. A statement by well 16/2-6 in 2010 wrote NPD discovery in PL 501 contains at least 100 million barrels of recoverable oil, and that it has an upside of nearly 400 million barrels.
In the summer of 2011, Statoil drilled 16/2-8 (Aldous) and showed the well that the two prospects hang together. Aldous and Avaldsnes together are now called the Johan Sverdrup oil field.
Located 140 kilometers west of the Stavanger‘s coast line, by 110 meters water depth and 2000 meters total depth.
Lundin´s drilling activity in PL501 and Statoil’s wells in the adjacent PL265 revealed that the two licences contained a gigantic contiguous oil field with excellent reservoir quality. Today, the giant oil field Johan Sverdrup is estimated within a very broad range of billion of barrels of oil equivalent, ranking it in the top five in terms of largest oil discoveries ever made on the Norwegian shelf. Moreover, this was, by far, the largest oil discovery made anywhere in the world in 2010.