• 5 minutes Oil prices forecast
  • 8 minutes Nuclear Power Can Be Green – But At A Price
  • 11 minutes Projection Of Experts: Oil Prices Expected To Stay Anchored Around $65-70 Through 2023
  • 16 minutes Europe Slipping into Recession?
  • 34 mins *Happy Dance* ... U.S. Shale Oil Slowdown
  • 6 hours Socialists want to exorcise the O&G demon by 2030
  • 1 min Emissions from wear of brakes and tyres likely to be higher in supposedly clean vehicles, experts warn
  • 6 hours Germany: Russia Can Save INF If It Stops Violating The Treaty
  • 6 hours UK, Stay in EU, Says Tusk
  • 2 days Connection Between Climate Rules And German's No-Limit Autobahns? Strange, But It Exists
  • 4 mins How Is Greenland Dealing With Climate Change?
  • 4 hours Is Natural Gas Renewable? I say yes it is.
  • 2 days Chevron to Boost Spend on Quick-Return Projects
  • 2 days Conspiracy - Theory versus Reality
  • 2 days Maritime Act of 2020 and pending carbon tax effects
  • 6 hours Saudi Private Jet Industry Stalls After Corruption Crackdown
Alt Text

Are Conventional Producers Really Losing Influence?

While it’s shale that catches…

Alt Text

Oil Markets Could See Deficit In 2019

The OPEC+ cuts and slowing…

Charles Kennedy

Charles Kennedy

Charles is a writer for Oilprice.com

More Info

Trending Discussions

Statoil Strikes Again in North Sea

Norway’s Statoil has announced two oil and gas discoveries in the Norwegian part of the North Sea, highlighting the potential for more discoveries in an area already thought to be mature.

Statoil and its partners have discovered a new gas deposit in the Askja West prospect and a new oil deposit in the Askja East prospect in the North Sea, with total volumes from both discoveries estimated to be in the range of 19 - 44 million barrels of recoverable oil equivalent.

"The North Sea is a highly prolific petroleum basin that has delivered new discoveries consistently for over four decades. We are convinced that there are still attractive opportunities both in near-field exploration and in more material growth plays," May-Liss Hauknes, vice president exploration North Sea in Statoil said in a press release.

According to a note released by the Norwegian Petroleum Directorate, two wells in the projects were drilled to respective vertical depths of 3,637 and 3,646 meters below the sea surface.

Statoil is the operator of the wells, with a 50% interest, while partners Svenska Petroleum Exploration AS and Det norske oljeselskap hold 25% each.

The wells are the second and third exploration wells in the Askja production license awarded in 2001. Both wells were drilled by Ocean Vanguard and located between the Oseberg and Frigg fields, about 13 kilometers southeast of the Statoil-operated Krafla/Krafla West finds made three years ago.

In November, Statoil announced an oil discovery in the Snilehord prospect of the Norwegian Sea. It estimated the prospect holds as much as 100 million barrels of recoverable oil and was the company’s third discovery in the region in as many months.

Also last year, the company announced plans to invest $7 billion in a North Sea Mariner oil field, bringing hundreds of jobs to the north east of Scotland. At the time, Statoil said this investment would represent the largest new offshore development in the UK in more than a decade.

Statoil expects to start production from Mariner in 2017, which should be around 55,000 barrels of oil per day until 2020.

By. Charles Kennedy of Oilprice.com




Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News