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Norway’s Statoil announces second major oil find in Barents Sea

Norway’s Statoil announces second major oil find in Barents Sea
# 09 January 2012 12:06 (UTC +04:00)
Baku - APA-Economics. Norway’s Statoil said Monday it has discovered a large oil reserve in the Barents Sea, its second major oil find in the Arctic region in less than a year.

The state-controlled oil company said a well drilled in the Havis prospect in the Barents Sea proved both oil and gas at an estimated volume of between 200 million and 300 million barrels of recoverable oil equivalents. Last April, Statoil said it had discovered between 150 million-250 million recoverable barrels of oil equivalents in the nearby Skrugard prospect.
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