Statoil and several partners announced the discovery of a noncommercial gas deposit in the southeast Barents Sea. The Korpfjell well is the first exploration well drilled in the Norwegian portion of a region once disputed between Norway and the Russian Federation. While the discovery, estimated at containing between 40 and 75 million bbl of recoverable oil equivalent, does not hold commercial potential, it indicates future potential for additional exploration and drilling. Korpfjell is the fourth well in Statoil’s 2017 efforts in the Barents, where July saw the discovery of the Kayak and Blåmann deposits, and the Gemini deposit in August. Partners include operator Statoil, with a share of 30%; Chevron with 20%; Petoro with 20%; Lundin Norway with 15%; and ConocoPhillips with 15%.
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