Statoil Reports Small North Sea Discovery

Norwegian energy firm Statoil (STO) has made a small oil discovery in the northern part of the North Sea, the Norwegian Petroleum Directorate said on Monday.

The well, drilled about 25 kilometres southwest of the Oseberg South field, encountered an oil column of a total of 80 metres estimated to hold between 6 and 19 million barrels of oil equivalents.

Statoil holds 50 percent in the license 035, where the discovery was made. The other partners include Svenska Petroleum Exploration and Det norske, each holding 25 percent.

Reporting by Stine Jacobsen