Norway's Det norske makes uncommercial oil find in Arctic

Fri, 21 Feb - 5:13pm

OSLO, Feb 21 (Reuters) - Norwegian energy firm Det norske

DETNOR.OL made an oil discovery in the Langlitinden prospect in the Arctic Barents sea but the find is probably not commercial, it said on Friday.

"Based on preliminary analysis, Det norske is of the opinion that the volumes proven in this well, as of today, are insufficient to justify a field development," Det norske said in a statement.

Det norske operates the licence and holds a 20 percent stake. Other shareholders include Sweden's Lundin Petroleum

LUPE.ST (20 percent), Tullow TLW.L (15 percent), Rocksource

RTG.OL (5 percent), Norwegian state holding firm Petoro (30 percent) and Atlantic Petroleum (10 percent)*.

(Reporting by Balazs Koranyi)

((Balazs.Koranyi@thomsonreuters.com)(+47 2331 6596)(Reuters Messaging: balazs.koranyi.thomsonreuters.com@reuters.net))

Keywords: NORWAY OIL/DISCOVERY

URN: 
urn:newsml:reuters.com:20140221:nWEB00IXG:8
Topics: 
CRU GB CMPNY PREC MINE ENR NO RTRS MIN GDM BMAT ENEQ EUROPE ENER OILG SE EUROP COM NORD LEN AFR WEU DRIL MTAL NRG EXPL

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