A new find in the Barents Sea could contain as much as 145million barrels of oil, it has emerged.
Lundin Petroleum confirmed testing of the Gohta find, in the Barents Sea off Norway, had proved more successful than expected.
The find marks the company’s first discovery in the Barents Sea, after previously unsuccessful attempts at finding resources, and has now given them a significant boost in looking for further oil resources in the region.
“We have for a number of years believed in the oil potential of the Barents Sea and as such are extremely pleased to have made a significant oil discovery at Gohta,” said Lundin chief executive Ashley Heppenstall.
“The discovery has proved the Permian carbonate play concept in the area and as well as delineating the discovery, we will now look to drill similar exploration prospects in adjoining licences where we have a significant acreage position.”
The find by the Transocean Arctic semisubmersible rig, around 35km north of the Snøhvit field in the Barents Sea, was found with a 25m gross gas column sitting above a 75m oil column.
Testing on the Gohta discovery has now indicated between 60 and 145million barrels of oil, along with another 275 to 545billion cubic feet of gas, with good production properties.
Lundin is operator of the field, with a 40% interest, with Det Norske Oljeselskap and Noreco partners in the project.
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