New Norwegian oil discovery in North Sea


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Tuesday, 28 June 2011
The Norwegian oil and gas group Statoil has discovered oil and is known as condensate, light crude oil in the North Sea.
The new oil well is located 26 kilometres southwest of the field Oseberg Sor. The deposit is estimated to be between 13 and 38 million barrels of oil equivalent, announces the oil developer. The discovery follows a finding of the same size in May in the same area.


"North Sea has been a continued high exploration potential, "said Gro Gunleiksrud Haatvedt of Statoil.
Swedish gas and oil company Svenska Petroleum Exploration or roughly translated Swedish Petroleum Exploration has a 25-percent interest in the discovered oil well. The company is wholly owned by Petro Swede, who in turn is owned by a Saudi businessman Mohammed Al-Amoudi, one of the largest private investors in Sweden.
By Team

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