Norway Confirms Small Arctic Oil Find

Article title
Det norske oljeselskap makes a small oil discovery in the Arctic Barents Sea.

Reuters

OSLO, March 3 (Reuters) – Norwegian oil explorer Det norske made a small oil discovery in the Arctic Barents Sea with a gross oil column of about 30 metres and much poorer reservoir quality than expected, the Norwegian Petroleum Directorate said on Monday.

Det norske earlier said it found some oil in the prospect but initial volumes did not justify development.

Det norske operates the licence and holds a 20 percent stake. Other shareholders include Sweden's Lundin Petroleum (20 percent), Tullow (15 percent), Rocksource (5 percent), Norwegian state holding firm Petoro (30 percent) and Atlantic Petroleum (10 percent).

Copyright 2016 Thomson Reuters. Click for Restrictions.

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE



Most Popular Articles

From the Career Center
Jobs that may interest you
Vice President, Power & Utilities M&A
Expertise: Asset Management|Business Analyst|Commercial Management|Field Development
Location: New York, NY
 
Research Unit Operator
Expertise: Mechanic|Rig Instrument Tech
Location: Richmond, CA
 
Geophysicist
Expertise: Geophysicist
Location: New Orleans
 
search for more jobs

Brent Crude Oil : $34.06/BBL 1.16%
Light Crude Oil : $30.89/BBL 2.61%
Natural Gas : $2.06/MMBtu 4.56%
Updated in last 24 hours