Tullow strikes in Norway

Tullow Oil is confident of hitting a "major new commercial oil resource" off the coast of Norway; one of the company’s few high- potential asset regions outside of Africa.

The Irish-founded exploration firm yesterday reported a successful oil find at the Hanssen discovery in the Barents Sea.

A 20-25 metre oil bearing sandstone, with “good reservoir properties”, was encountered in the main target of a wildcat well.