Norsk Hydro oil find at Nucula confirmed by Norway's Petroleum Directorate |
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Wed, 28 Feb 2007 09:23
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OSLO (AFX) - Norsk Hydro ASA has found oil and gas at the Nucula prospect in the Barents Sea, Norway's Petroleum Directorate (NPD) confirmed.No details were given on the size of the discovery, but the NPD said that the well 7125/4-1 in the Nucula prospect had confirmed the presence of both oil and gas.Reports in Norway earlier in the week suggested the find could contain as much as 300-500 mln barrels of oil, enough to dwarf the nearby Goliath field, which is though to contain in the region of 250 mln barrels.The Nucula production licence is located about 110 km north-east of the Goliath discovery, and about 65 km north of Honningsvag.The NDP said the well was not production tested, but that extensive data collection and sampling have taken place.The collected data will be evaluated, it said, in order to determine the resource potential in discovery as well as further plans for the licence.The well will now be permanently plugged and abandoned, it added.As operator, Norsk Hydro has a 30 pct stake in the field.The other license holders are Eni Norge AS with 30 pct, BG Norge AS with 20 pct, and Petoro AS with 20 pct.alastair.reed@thomson.comar/abrCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Norsk Hydro makes significant new oil and gas find in Barents Sea - report 