The company in July re-entered an appraisal well at the promising Alta discovery, and has two further wildcats planned this year in the Loppa High area. Total resources in the area could reach as high as 1 billion barrels, chief executive Alex Schneiter said at the Pareto conference in Oslo on Wednesday.
With a possible 8.8 billion barrels of oil equivalent left to be found in the Barents Sea, “this is the new growth area for Norway,” said Schneiter.
Lundin
