Norway: More oil reserves in the North

The Norwegian Petroleum Directorate (NPD) has adjusted upwards by 20 per cent the estimates for how much undiscovered oil there is in the Barents Sea.

The new figures will be presented in a report on available resources due to be published by the NPD in a few days.

Acting Oil Director Bente Nyland revealed the news at Petro 2007 in Harstad on Thursday.
She said that the finds at the Goliat and Nucula fields in the past year, has made it possible to scale up the estimated reserves in the Barents Sea from 400 to 480 million cubic metres of oil.

Nyland said to the newspaper Nordlys that the Barents Sea has a greater potential than the Norwegian Sea, and is getting close to the reserves available in the North Sea.

The Norway Post