StatoilHydro makes gas discovery in Norwegian Sea

Analysis

Norwegian oil and gas group StatoilHydro has made a gas discovery at the Galtvort prospect in the Norwegian Sea, Norwegian energy officials said on Monday.

“The total size of the discovery is estimated at 1-3 billion standard cubic meters (sm3) of recoverable gas,” the Norwegian Petroleum Directorate (NPD) said in a statement. “The licensees will now evaluate the size of the discovery for further clarification prior to considering potential development solutions,” it said. StatoilHydro is operator and has a 30% interest in the prospect, which lies 30 kilometers northeast of the Njord field and 9 kilometers northwest of the Draugen field in the Norwegian Sea.

Other partners in the license are Gaz de France Norway with 20%, Norwegian energy company Noreco with 17.5%, E.ON Ruhrgas Norge with 17.5%, state-owned Petoro with 7.5%, Concedo with 5% and Endavour Energy Norge which holds a 2.5% stake. (Reuters)

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