Tullow discovers first crude oil off Norway
The company, together with partners, including OMV and Statoil, made the “breakthrough oil discovery” with the Wisting Central exploration well in the Barents Sea, Tullow said. The Hoop-Maud Basin find may hold from 60m barrels to 120m barrels of recoverable crude, said the London-based explorer.
“The discovery is a basin-opener with upside potential” of as much as 500m barrels, Oswald Clint, an analyst at Sanford C Bernstein & Co, wrote in an e-mailed report.
