Statoil Reports A Dry Well In The North Sea

Rigzone is reporting:

The Norwegian Petroleum Directorate reported Monday that Statoil has drilled a dry well north of the Fram field in the North Sea. The NPD said that Statoil is in the process of concluding the drilling of the wildcat well (35/11-16S). The well was drilled approximately 3.5 miles north of the Fram field in the northern North Sea, and around 80 miles northwest of Bergen.

It was drilled from production license 248C with the exploration target situated in license 090B. Its objective was to prove petroleum in Upper Jurassic reservoir rocks.

I doubt these wells are inexpensive.