KASSEL, Germany, March 27 (UPI) -- German energy company Wintershall said it found an area in the Danish waters of the North Sea that may contain as much as 100 million barrels of oil.
Wintershall said it drilled successfully in the Hibonite exploration well offshore Denmark. Combined with the nearby Ravn field, the company said the resource potential is around 100 million barrels of oil.
"The commercial viability of the Hibonite discovery as well as further upside potential will now be evaluated," Wintershall said. "A synergy with the nearby Ravn discovery may lead to a cluster development approach."
The Danish Energy Agency reported that oil production as of 2011 was around 80 million barrels, a decline of almost 10 percent compared to the previous year. The agency blamed maturation of areas from the North Sea for much of the decline.
Wintershall board member Martin Bachmann said, however, the latest offshore discovery represented "an exciting and important step toward becoming a producer in the Danish North Sea."
Wintershall's well was drilled in shallow waters.
