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Norwegian Sea point of new oil discovery

Aug. 15, 2013 at 6:50 AM   |   Comments

OSLO, Norway, Aug. 15 (UPI) -- The Norwegian government said analysis of an oil discovery unveiled Thursday in the Norwegian Sea would determine its commercial prospects.

The Norwegian Petroleum Directorate said Statoil found oil in the Norne field off Norway.

The NPD said the company ran into an oil column measuring about 32 feet thick. The regulator said the preliminary estimate of the size of the discovery is less than 6 million barrels of recoverable oil and an analysis will be made to assess its commercial prospects.

Statoil was given consent this week to start drilling in the North Sea.

The NPD said Wednesday average daily production of oil and associated products was more than 1.9 million barrels for July, a 15 percent increase from the previous month. Natural gas production of approximately 325 billion cubic feet was 11 percent more than in June.

NPD Director General Bente Nyland said in June eight discoveries had been made so far this year on the Norwegian Continental Shelf

Norway is a European leader in terms of oil and natural gas production.

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