(Photo: Getty Images) Oil platform on Barents SeaStatoil has recently reported to find more oil resources in the Barents Sea. The hydrocarbon discovery at the Skavl prospect could increase the chances for a new field centre development in the Arctic, says Atle Staalensen from the Barents Observer.

According to Statoil, the Skavl prospect includes up to 50 million barrels of extractable resources. The well drilled by the rig West Hercules is located only few kilometers from the Johan Castberg and Havis structures in the Barents Sea.

The new project includes modest volumes of oil, but could still increase the likelihood of a major field development in the area. After finding the Castberg and Havis fields in 2011, Statoil announced that a major breakthrough had been made in the Barents Sea, calling the fields in "the most important discoveries on the Norwegian shelf over the last ten years".

Statoil is an international energy company with operations in 34 different countries.

Statoil is operator for production licence PL532 with an ownership share of 50 percent. The licence partners are Eni Norge AS (30%) and Petoro AS (20%).

Source: Barents Observer

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