Statoil strikes oil offshore Canada

Statoil strikes oil offshore Canada
Oil rig - Floatel International NTB Scanpix
Norwegian state oil company Statoil has made a third discovery off Newfoundland, raising hopes that the area could become a major new province for the company.
“The success of Bay du Nord is the result of an ambitious and targeted drilling campaign in the Flemish Pass Basin,” said Statoil Exploration vice president Tim Dodson. “This discovery is very encouraging.”
 
A discovery was made at the nearby Harpoon prospect in June, while the Mizzen discovery, which opened up the province, was announced in 2010. 
 
Mizzen is estimated to contain up to 200 million barrels of oil.
 

Member comments

Become a Member to leave a comment.Or login here.