Statoil strikes oil in Norwegian Sea

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State oil company Statoil reports it has struck more offshore oil and gas, this time in the Norwegian Sea around 15 kilometers north of the Norne Field.

Statoil’s head of exploration in areas near existing oil and gas fields in the Norwegian Sea, Geir Richardsen, told news bureau NTB that the latest strike is in the Fossekall prospect north of Norne.

It’s estimated the new strike may contain between 37 million and 63 million barrels of oil, and between 1 billion to 3 billion standard cubic meters of gas.

Richardsen said he was glad Statoil found more oil and gas in the area because it “can have an impact on the future of the Norne Field.” Statoil and its partners in Norne will now evaluate whether to develop the new well.

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