Statoil, operator of PL348, concluded in May 2008 the drilling of wildcat well 6407/8-4 S and the appraisal well 6497/8-4 A. The discovery is located between the Njord field and the Draugen field in the Norwegian Sea.
The well 6407/8-5 A was a planned sidetrack and it proved gas in the Middle to Lower Jurassic reservoir rocks. The discovery well 6407/8-4 S proved gas at the same level in the southern segment of the Galtvort prospect. According to NPD, the total size of the discovery is estimated at 1-3 billion Sm3 recoverable gas. Concedo had a 5% working interest in the license.