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Norsk Hydro ASA announces promising new oil discovery in the North Sea
Nordic Business Report, May 13, 2005
NORDIC BUSINESS REPORT-13 May 2005-Norsk Hydro ASA announces promising new oil discovery in the North Sea(C)1994-2005 M2 COMMUNICATIONS LTD http://www.m2.com
The Norwegian energy and materials group Norsk Hydro ASA announced on Friday (13 May) that it had made a promising new oil discovery in the Astero prospect north of the Fram field in the North Sea.
"We have found oil and some gas in rocks dating from the late Jura period and consider the find to be promising and commercially interesting," said Lars Christian Alsvik, Norsk Hydro's director of development for Norway.
"We will evaluate development solutions in connection with the Fram field and the Troll C platform. At the moment we can't go into detail about how large the recoverable reserves are in this instance, but the size is significant enough that we are also considering other development solutions," Alsvik added.
Norsk Hydro is the operator of Fram with a 25% stake. Its partners are ExxonMobil, Statoil, Idemitsu and Gaz de France.
((Comments on this story may be sent to nbr.feedback@nordicbusinessreport.com))
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