Statoil's New North Sea Exploration Looks Hopeful

The Norwegian Statoil company has confirmed that new gas and oil resources have been discovered as a result of the drilling of two exploration chinks in the Gulfaks and Statford deposits , located in North Sea. Statoil is the operator of both deposits. If the analysis of the wells 33/12-8S and 33/12-8A will show, that they are profitable, the company will continue the drilling work at the sites. According to experts, the first oil recovery could begin within two years.

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