Norwegian energy giant Statoil said yesterday a huge North Sea oil field could be boosted by another prospect nearby.
The operator said the recently discovered Geitungen field in Norwegian waters could be connected to the giant Johan Sverdrup discovery, estimated to hold up to 3.3billion recoverable barrels of oil.
If there is a link to Geitungen, itself believed to contain up to 270million recoverable barrels of oil equivalent, it would reduce the exploration and production costs for Statoil and its partners.
The Geitungen prospect was drilled nearly two miles north of Johan Sverdrup, which is expected on stream in late 2018.