Exploration & Production | Discoveries
Statoil Touts 'Significant' Oil Discovery Offshore Canada
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Statoil Canada and co-venturer Husky Energy have reported that the first Bay du Nord exploration well has discovered between 300 and 600 million barrels of oil recoverable (see map below).
The Bay du Nord discovery, located approximately 500 kilometres northeast of St. John's, Newfoundland and Labrador, Canada, was announced in August. A sidetrack well has been completed this week and confirms a high impact discovery. Additional prospective resources have been identified which require further delineation.
The Bay du Nord discovery is Statoil's third discovery in the Flemish Pass Basin. The Mizzen discovery is estimated to hold a total of 100-200 million barrels of oil recoverable. The Harpoon discovery, announced in June, is still under evaluation and volumes cannot be confirmed at this…
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