Statoil ASA, Norway’s biggest energy company, found as much as 80 million barrels of oil near the Grane field in the North Sea, potentially boosting volumes at a 1992 discovery more than 13-fold.
“This is a result of a recent re-evaluation of the area,” May-Liss Hauknes, Statoil vice president for exploration in the North Sea, said in a statement. “New seismic and improved subsurface mapping have given us new confidence in the D-structure and allowed to mature it towards a drilling decision.”
