Vidsyn Discovery Proves Up Commercial Oil and Gas
Norway, July 21 -- DNO ASA, the Norwegian oil and gas operator, confirmed a gas and condensate discovery on the Vidsyn prospect close to its producing Fenja oil and gas field, both within the Norwegian Sea license PL586. The Company has a 25 percent stake in the license, up from 7.5 percent prior to the recent acquisition of Sval Energi Group AS last month.Preliminary estimates put gross recoverable resources in the range of 25 to 40 million barrels of oil equivalent (MMboe) with a mean of 31 MMboe, above the pre-drill estimate range. The Vidsyn discovery was made in Middle Jurassic high-quality reservoir sandstones of the Ile formation. The partnership, including Var Energi ASA (75 percent and operator), considers the discovery commercial ...
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