Norwegian Oil has Announced the Discovery of 130 Million Barrels of Oil
The news from Sina, China news, Beijing time 9, according to the financial times, Norway's Statoil announced on Monday that it had found up to 130 million barrels of oil fields in the Outer Moray Firth region of the UK, the finding could help oil and gas producers in the region step further out of the doldrums.
This finding "is encouraging," said Jez Averty, senior vice President of exploration for north sea for Statoil. But there is still a lot of work to do, including an assessment to identify the recoverable reserves.
Affected by low-cost resources in other parts of the world, the exploration activity in the North Sea is at its lowest level since the 1970s, but confidence is returning.
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