NPD ups eastern Barents, Jan Mayen resource estimates

03/18/2013
A resource assessment of the southeastern Barents Sea offshore Norway and the area surrounding Jan Mayen Island northeast of Iceland indicates a 15% increase in estimated undiscovered resources on the Norwegian Continental Shelf to 390 million standard cu m of oil equivalent, the Norwegian Petroleum Directorate said. The mapping exercise that led to the increased estimate was a step in the authorities' process to open these areas for oil and gas exploration. However, NPD noted that Iceland has the right of use for parts of the shelf surrounding Jan Mayen and has already awarded licenses. In the southeastern Barents, NPD mapped a 44,000 sq km area along the Russian sea boundary and estimat...
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