Statoil Comes up Dry in Norwegian Sea

Oil and gas firm Statoil (STO) hit a dry well in the Southern part of the Norwegian Sea, the Norwegian Petroleum Directorate said on Friday.

The well was drilled in production licence 348 C about four kilometres North of the Hyme field.

Statoil is the operator of the field and has a 35 percent stake. Other partners include Core Energy with 22.5 percent, E.ON with 17.5 percent, GDF Suez with 15 percent, Faroe Petroleum with 7.5 percent and VNG with 2.5 percent.

Reporting by Stine Jacobsen