Oil company with discoveries in the North Sea

Det norske oljeselskap ASAPhoto: Det norske oljeselskap ASA

The Norwegian oil company has made an oil discovery at the Langfjellet project in the North Sea. The company, controlled by Kjell Inge Røkke, believe it contains between 24 million and 74 million barrels of oil.

“The licensees will consider these discoveries in terms of a possible development along with other discoveries in the area,” it says in a stock exchange release on Wednesday morning.

– This is bigger than we had  predicted, said CEO Karl Johnny Hersvik to E24 during a breakfast seminar at ONS in Stavanger.

The Norwegian oil company is the operator and owns 90 percent of the license, whose name is PL 442. LOTOS Exploration , and Production Norway owns the rest.


Source: NTB scanpix / Norway Today




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