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Statoil finds extra 4 mln barrels of oil at Volve field in N.Sea

Statoil has found extra oil at its Volve field in the North Sea, the Norwegian Petroleum Directorate said on Monday.

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The firm has found an additional 3.8 million and 4.4 million barrels of recoverable oil, said the agency.

Earlier this month Statoil said new drilling proved the Volve field to hold additional oil reserves in a range from 8.8 million to 9.4 million barrels, almost doubling the estimated remaining reserves at the North Sea field.

 

Statoil holds 59.6 percent in Volve, ExxonMobil 30.4 percent and Bayerngas Norge 10 percent of the license.

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