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Statoil finds second Barents Sea oil field

Jan. 9, 2012 at 4:12 PM   |   Comments

BATSFJORD, Norway, Jan. 9 (UPI) -- The Norwegian oil company Statoil said it had found a new oil field in the Barents Sea that contains up to 300 million barrels of recoverable oil.

The well dug in the Havis prospect falls under the same license as the Skrugard field that was discovered in April and is estimated to contain approximately the same quantity of recoverable oil, The Norway Post reported Monday.

"Havis is our second high-impact oil discovery in the Barents Sea in nine months. Skrugard and Havis open up a new petroleum province in the north," said Statoil ASA President and Chief Executive Officer Helge Lund.

"The Skrugard and Havis discoveries will be important for industrial development and will further boost activity in the supplier industry, providing new jobs and generating spin-off effects throughout the region."

The production license for the two oil fields is shared by Statoil, which owns 50 percent, Eni Norge AS, which owns 30 percent, and Petoro AS, which owns 20 percent.

Topics: Helge Lund
© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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