Statoil (STO +1.6%) says it found "significant" new oil resources in the North Sea, with...

|About: Statoil ASA (STO)|By:, SA News Editor

Statoil (STO +1.6%) says it found "significant" new oil resources in the North Sea, with preliminary calculations indicating the discovery in the Gullfaks oilfield contains in the range of 40M-150M recoverable barrels. The production well where tests are carried out is providing stable production of 7,500 bbl/day and has produced nearly 1M barrels since December.