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New Norwegian oil find give the country a comfortable readiness for the future.

Wednesday, 29 August 2012
On Tuesday, Statoil and Lundin Petrolium  reported new oil discoveries - discoveries for what they have been searching for 40 years.

The news came just in time for the opening of the International Oil Exhibition in Stavanger, Norway. From the town, it is not more than 18 miles out to sea to the new findings. And the Norwegians are now living with great optimism for the future.
The discovery is located next to the area where last year, discoveries made in the same size as those that were did in the 1970s. This means that the geographical area of the oil is greater than previously imagined - and contain more oil than the Norwegians dreamed of.

Oil and energy conferences in Norway in recent years has focused on talking about the development of gas and alternative energy.

But now that the new oil discovery is estimated to provide up to a few hundred million barrels of oil, and lie next to last year's grand bargain with its estimated three billion barrels of oil, so geologists and engineers are thinking rather on what has so far been overlooked.

It is because the findings lies in an area which many felt was drained of oil, so they did not look there.
by Team

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