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Total makes oil find in Norwegian waters

  |   Dec. 3, 2012 at 7:34 AM
PARIS, Dec. 3 (UPI) -- A discovery in the Norwegian waters of the North Sea is estimated to hold as much as 75 million barrels of recoverable oil, said French supermajor Total.

Total said 4,300 barrels of oil per day flowed during testing of a well at the Garantiana prospect in the Norwegian waters of the North Sea. The company said the discovery, in about 1,200 feet of water, holds 25 million-75 million barrels of recoverable oil.

Patrice de Vivies, Total senior vice president for regional exploration and production, said the latest discovery opens a new area of opportunity for Total. The company is surveying nearby prospects and said it expects to drill another test well in the area.

Total petroleum reserves on the Norwegian continental shelf last year were estimated at about 80 billion barrels of oil equivalent.

In October, the French company said it started work at the Atlas natural gas condensate field in the North Sea. Total said it expected to produce, on average, 14,000 barrels of oil equivalent per day from the site starting next year.

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