Statoil Finds Gas in Arctic Norway

Norwegian energy firm Statoil (STO) has found gas in the Pingvin prospect in the Norwegian Arctic, one of its partners said on Friday.

"The well has identified gas in a sandstone reservoir," North Energy said in a statement. "Updated information from the well will be provided as soon as the analyses have been completed."

The partners in the production license, called PL 713, are Statoil, which has a 40-percent stake, North Energy, RN Nordic Oil and Edison each with 20 percent.

Reporting by Gwladys Fouche