Subscribe free to our newsletters via your




OIL AND GAS
Norway: New reserves found in North Sea
by Daniel J. Graeber
Oslo, Norway (UPI) Jul 1, 2015


disclaimer: image is for illustration purposes only

The Norwegian government confirmed Wednesday oil and gas reserves were discovered in a North Sea area not known previously to contain hydrocarbons.

The Norwegian Petroleum Directorate, the nation's energy regulator, said reserves were discovered in appraisal and wildcat, one drilled in an untapped area, near the existing Gina Krog field in the North Sea.

The NPD said the objective of the well was to prove and delineate the potential for commercial volumes of oil and natural gas. For the discovery as a whole, the regulator said it estimated the size of the discovery at between 35 million and 70 million cubic feet of oil equivalent, which would be an average 9.3 million barrels if the entire discovery existed as oil.

There was no comment on the discovery from Statoil, which serves as the operator of the program.

Norway is one of the leading European suppliers and producers of oil and natural gas. Oil and natural gas production from Norwegian basins increased in May, the last full month for which data are available, with oil output up 2.4 percent year-on-year.

NPD set a goal of adding 5 billion barrels of oil to national reserves. By 2019, operators expect to start production at the Johan Sverdrup field, the fifth largest discovery ever made on the Norwegian continental shelf.

Statoil said this week first steel was cut on part of the platform structures meant for the program. Production plans were submitted to the government for early-stage developments at the Gullfaks region in the North Sea, which Statoil said could add another 18 million barrels of oil equivalent to net Norwegian production.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
All About Oil and Gas News at OilGasDaily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








OIL AND GAS
CCNY researchers develop eco-friendly oil spill solution
New York NY (SPX) Jul 01, 2015
City College of New York researchers led by chemist George John have developed an eco-friendly biodegradable green "herding" agent that can be used to clean up light crude oil spills on water. Derived from the plant-based small molecule phytol abundant in the marine environment, the new substance would potentially replace chemical herders currently in use. According to John, professor of c ... read more


OIL AND GAS
Donors pledge $4.4bn in aid to quake-hit Nepal

Quake-hit Nepal appeals for aid to rebuild country

Frustration as tourists stay away from quake-hit Nepal

Malaysia says committed to MH370 hunt despite ship pull-out

OIL AND GAS
GPS Industries Launches Troon Connectivity Program

Raytheon Demonstrates Advanced GPS OCX Capabilities

Russia Begins Mass Production of Glonass-K1 Navigation Satellites

Russia, China Plan to Equip Commercial Trucks With Glonass, BeiDou

OIL AND GAS
An early European had a close Neandertal ancestor

Climate change may destroy health gains: panel

Tool use is 'innate' in chimpanzees but not bonobos, their closest evolutionary relative

400,000-year-old dental tartar provides earliest evidence of manmade pollution

OIL AND GAS
Lupita Nyong'o joins fight to save Africa's elephants

Ecuador releases 201 tortoises on Galapagos island

Brazil to open Latin America's first elephant sanctuary

First lions to return to Rwanda after over two decades

OIL AND GAS
Five-year window for preventing AIDS rebound: experts

Bill Gates hopeful of AIDS vaccine in 10 years

South Korea passes new law to curb MERS outbreak

Ebola epidemic was disaster for malaria control: study

OIL AND GAS
Hundreds protest against Dalai Lama in Britain

China's Great Wall is disappearing: report

Billions of China's lottery funds misused: report

Chinese who buy children to be prosecuted: report

OIL AND GAS
Malaysian navy shadows tanker, urges hijackers to give up

Polish bootcamp trains security contractors for mission impossible

A blast and gunfire: Mexico's chopper battle

OIL AND GAS
China manufacturing sees slight pick-up in June

World Bank warns China over state financial control

China presses US to invest more in its own economy

China to scrap constraint on bank lending




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.