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Norway's Statoil announces promising oil find in North Sea
Aug 8, 2011, 9:53 GMT
Oslo - Norwegian energy firm Statoil and its partners Monday announced a promising oil find in the North Sea, west of Stavanger.
The well in the Aldous Major South prospect was estimated to contain between 200 and 400 million barrels of oil equivalent (boe), the groups said citing preliminary data.
'Aldous Major South is a considerable oil discovery in one of Statoil's core areas. Together with the Avaldsnes discovery this may allow for a new stand-alone development in the North Sea,' Gro G Haatvedt, vice president for Statoil's exploration on the Norwegian continental shelf, said in a statement.
Statoil has a 40 per cent interest in the find. Other partners are Petoro with a 30 per cent stake, Det norske oljeselskap with 20 per cent, and Lundin Petroleum with 10 per cent.
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