No estimates yet on how much might be available in area
Statoil has announced a discovery of oil at its Harpoon prospect in the Flemish Pass.
The location is about 500 kilometres northeast of St. John’s, but is only about 10 kilometers from the company’s significant discovery at its Mizzen prospect. That find of 100-200 million barrels was announced at the Noia annual conference in June of last year.
The news about the Harpoon prospect comes in the midst of the same annual industry event — drawing together the oil operator, supply and service community on Canada’s east coast.
While releasing news of the find, the company does not have an estimate as to how much oil might be available at Harpoon. The company has said what it encountered is “light, high-quality oil.”
“While it is still too early to determine Harpoon’s resource potential at this time, this is very encouraging for the area and especially for the Bay du Nord well planned for later this year,” said senior vice president for Statoil in North America, Erik Finnstrom, in a company statement.
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“We anticipate there will be further appraisal drilling to mature this discovery in the future,” he said.
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