STOCKHOLM, Sweden, Oct. 2 (UPI) -- Swedish energy company Lundin Petroleum said Wednesday oil was flowing from its Gohta oil prospect off the coast of Norway in the Barents Sea.
Gohta is Lundin's first oil discovery in the Barents Sea. It said test flows from the prospect yielded 4,300 barrels of oil per day.
Lundin said it estimates the Gohta discovery holds as much as 145 million barrels of oil and 545 billion cubic feet of natural gas.
"We have for a number of years believed in the oil potential of the Barents Sea and as such are extremely pleased to have made a significant oil discovery at Gohta," Ashley Heppenstall, president and CEO of Lundin Petroleum, said in a statement.
Lundin said it started drilling an exploration well in the Gohta prospect nearly 90 miles off the Norwegian coast in the Barents Sea in July.
Norway is a regional leader in terms of oil and natural gas production. Lundin said the Gohta prospect confirmed oil and gas was present in an area it said has so far proved unsuccessful.
