Statoil struck more oil near Oseberg

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Norwegian oil company Statoil has announced several new oil discoveries in the Krafla area of the North Sea, not far from the Oseberg South oil field. The company believes the discoveries prove there are still growth opportunities in the North Sea, nearly 50 years after oil was first found off the southwestern coast.

The company said it believed the new discoveries can yield a total of 140 million to 220 million barrels of oil equivalents just 25 kilometers southwest of Oseberg Sør and 150 kilometers west of Bergen.

That’s considered a substantial amount of oil for such a “mature” area of the Norwegian Continental Shelf, according to Statoil’s director of exploration on the shelf, Irene Rummelhoff.

newsinenglish.no staff