Major gas field found off northern Norway

Oil companies Shell and StatoilHydro might have found one of the world’s biggest offshore gas fields off the coast of northern Norway.

 

Leiv Eriksson Rig.

Leiv Eriksson Rig.

The gas field named Gro located about 350 km off the coast in the Norwegian Sea could turn out to be among the biggest offshore fields in the world, Offshore.no reports with reference to newspaper Finansavisen.

The rig Leiv Eriksson is currently doing drilling in the appraisal well. Shell, the operating company and owner of 60 percent of the license, before the drilling indicated that gas resources worth up to 1000 billion NOK (111 billion EUR) could be hidden in the reservoir, the newspaper writes.

Drilling in this part of the Norwegian Sea has so far been sparse. A major finding in the area would move the Norwegian oil and gas industry further north. From before, the Lofoten waters and Barents Sea is a top priority for the industry.

Shell owns 60 percent of the Gro license, while StatoilHydro has the remaining 40 percent.

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