Norway's reserves look evenly split

Norway may have up to 5.8 bcm of oil equivalent in undiscovered reserves according to the latest national resource report from the Norwegian Petroleum Directorate.

Offshore staff

OSLO, Norway --Norway may have up to 5.8 bcm of oil equivalent in undiscovered reserves according to the latest national resource report from the Norwegian Petroleum Directorate.

The NPD estimates that 45% of these reserves could be liquids and the remainder gas. It expects 70% of all remaining petroleum volumes will be split between the North Sea and the Norwegian Sea, with 30% in the Barents Sea.

The NPD report, however, does not take into account the potential for finding oil and gas in currently off-limit regions off mid-Norway such as Lofoten and Vesteraalen.

NPD has been collecting new geophysical data in these areas, following a request from Norway's parliament.

09/24/2007

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