Statoil makes third oil discovery offshore Canada
Statoil has made a third discovery of crude oil in the Flemish Pass Basin, offshore Newfoundland – a Canadian island.
The Norwegian firm said it is assessing the discovery on the Bay du Nord field – located around 500 kilometres northeast of St. John’s on Canada’s East Coast – and “developing a greater understanding” of the geology and potential of the basin.
Its previous find was in June at the Harpoon prospect, which is located 10 kilometres from Bay du Nord. Prior to that, the firm made a discovery at the nearby Mizzen field in 2009, with officials estimating it could hold between 100-200 million barrels of recoverable oil.
Read the full article here http://www.energylivenews.com/2013/08/28/statoil-makes-third-oil-discovery-offshore-canada/
Source: Energy Live News
Filed under: Energy Tagged: Bay, Canada, Harpoon, Hydrocarbon exploration, Newfoundland, Nord, St. John's Newfoundland and Labrador, Statoil
