OSLO, April 10 (Xinhua) -- The VNG Norway company announced on Thursday that it has discovered a new oil field about 30 km southwest of the Njord field in the Norwegian Sea.
The Pil prospect, where the discovery was made, is located on the Halten Terrace (Haltenterassen in Norwegian).
The preliminary results from this well are very encouraging, said Atle Sones, chief executive officer of VNG Norway.
Between 50 and 170 million barrels of oil equivalent are expected in this field, large enough to justify independent development.
The Njord field, which was developed in the 1990s, contained 312 million barrels of oil equivalent when it was discovered.
