Scandinavian oil giants Statoil have made a third discovery in the Gullfaks licence this year. Tom Dreyer, exploration head for the northern North Sea said: “Even though the volumes are modest compared with the large finds made off Norway earlier, this type of discovery is important for maximising the potential on the Norwegian continental shelf, […]

Independent oil and gas company, Faroe Petroleum, has found oil in its first operated exploration well on the Fulla Prospect in the west of Shetland. The well, located 31 kilometres to the north east of the BP-operated Clair field platform, and reservoir quality is said to be better than expected. Graham Stewart, Chief Executive of […]