Norsk Hydro makes significant new oil and gas find in Barents Sea

STAVANGER (AFX) – Norsk Hydro ASA has made a significant new oil and gas find in the Barents Sea which could dwarf the mammoth Goliath field nearby, according to Norwegian paper Dagens Naeringsliv.

The paper, which quotes oil industry sources, says geological tests have show that the Nucula well could contain 300-500 mln barrels of oil.


The Goliath licence No 229, which in February was expanded by Norway’s Energy Ministry, is by comparison thought to contain 250 mln barrels of oil, the paper said.

‘We will come out with new information after March 1,’ Hydro press spokesman Christer av Geijerstam, told the paper.

Forbes