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Statoil makes third strike off Norway since summer

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Statoil makes third strike off Norway since summer
Statfjord oil rig - Harald Pettersen, Statoil
13:33 CET+01:00
Statoil has made its third oil discovery in as many months on the Norwegian continental shelf, with the latest find expected to yield between 55 million and 100 million barrels of oil.
"In three months, we have made three new discoveries in the Norne, Åsgard and Njord areas," Gro Haatvedt, the company's senior vice president for exploration on the Norwegian continental shelf. "These are high value barrels that allow us to extend the production life of our installations."
 
The discovery, at the Snilehorn prospect, is about fifteen kilometres northeast of the existing Njord field, meaning the oil can be piped back to the existing offshore platform. 
 
Haatvedt said that the discovery was the first time oil had been found in the same kind of geological formation in the Norwegian North Sea, raising the chances of similar finds in future. 
 
"This is probably the first time hydrocarbons have been proven in Grey Beds formation in this part of the Norwegian Sea. This will be confirmed by further analyses of the data and may imply further upside potential in this area," she said. 
 
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