A major oil find in the Arctic made by Norway’s Statoil could contain 350million barrels more than previously thought, it was reported today.
The Skrugard oil find – so far estimated to contain between 200 and 300million barrels, with a potential to hold up to 500 million – boosted the interest of oil firms in the Norwegian Arctic when it was discovered last year.
New figures presented by Statoil at a recent meeting suggested Skrugard could hold much more, according to today’s report in a Norwegian newspaper.
“What was presented by Statoil were the possibilities for up to 350million barrels extra in the license (and) production of first oil in 2018,” it added.
Statoil was not immediately available for comment.