Statoil confirm major North Sea discovery

The Aldous and Avaldsnes oil discoveries in the North Sea may be worth between 500 million and 1.2 billion barrels of recoverable oil, according to Statoil. The oil company say […]

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By Tom Gibson

The Aldous and Avaldsnes oil discoveries in the North Sea may be worth between 500 million and 1.2 billion barrels of recoverable oil, according to Statoil. The oil company say the discovery will be one of the ten largest oil finds ever on the Norwegian continental shelf (NCS).

The company announced on 8 August they had found a minimum 65-metre oil column in the Aldous Major South well 16/2-8 in the North Sea.

Tim Dodson, Statoil’s Executive Vice President for Exploration praised the company’s dedication: “The discoveries are a result of Statoil’s exploration strategy of prioritising high-impact opportunities, while focusing on our established core areas. Making a discovery of this size in a mature area shows that exploration is all about perseverance, creativity and obtaining new knowledge.”

Statoil have had a successful year, in April of this year the 250 million barrel Skrugard discovery was made in the Barents Sea, and the 150-300 million barrel Peregrino South oil field was discovered off the coast of Brazil.