New oil and gas find offshore Norway

Using its Gullfaks C platform, the Norwegian Petroleum Directorate confirmed a discovery of oil and gas in the Gimle field, about 4 miles away from the Gullfaks field that's already in production. The discovery was made in a so-called wildcat well, a well drilled into an area not previously known to hold reserves. The NPD estimated the size of the discovery at between 6 million and 18 million barrels of oil equivalent. The Norwegian government reported production levels for February of 1.67 million barrels of oil per day and 365,000 barrels of natural gas liquids. Oil production in particular was nearly a full percentage point higher than the NPD expected for February. (International Business Times)



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