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Aker BP Finds up to 153 million Barrels of Oil Equivalents in North Sea

An oil and gas reservoir has been discovered by Aker BP while the company was drilling near the Alvheim field in the North Sea as confirmed by the Norwegian firm last Monday.

Known as Froskelaar (Frog’s Leg) Main, the reservoir is estimated to hold between 45 million and 153 million barrels of oil equivalents and may straddle Norway’s maritime border with Britain. The location of the reservoir straddles between Norway’s maritime border with Britain.

“The drilling operation will continue, and a comprehensive data collection program will be performed to determine the size and quality of the discovery,” Aker BP said in a statement.

Whenever such reservoirs are found across the British-Norwegian offshore border, the two nations share the revenue based on the estimated production on both sides. The same calculation will prevail in case of this reservoir too.

Source: Oil and Gas People

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