Statoil finds more oil in Norwegian Sea

Bookmark and Share

State oil company Statoil reported Monday that it had struck more oil during exploratory drilling in the Norwegian Sea. The new discovery at the Kayak well can yield between 25 million and 50 million barrels of oil, around 20 kilometers from the Johan Castberg field off Northern Norway.

“We are very satisfied that we have made a discovery in the first well we’re finished with drilling this year,” Morten Eek of Statoil told state broadcaster NRK. “This will send fine volumes into the Castberg project.”

Statoil plans to drill five wells this summer. Now the drilling rig it’s using, Songa Enabler, will move on to the Blåmann well, which lies between the Snow White and Goliat fields.

Statoil’s Arctic drilling program remains controversial, pitting those keen on expanding Norway’s oil industry and pumping up its revenues against those who oppose such expansion because of the risks it creates for the climate and environment. staff