Statoil Reveals Elephant-Sized Oil Discovery

- August 17th, 2011

Forbes reports that Statoil(NYSE:STO) suggested that the Aldous and Avaldsnes oil discoveries in the North Sea is likely to contain 500 million and 1.2 billion barrels of recoverable oil.

Forbes reports that Statoil (NYSE:STO) suggested that the Aldous and Avaldsnes oil discoveries in the North Sea is likely to contain 500 million and 1.2 billion barrels of recoverable oil.

The market news is quoted as saying:

The discovery may represent one of the ten largest oil finds ever on the Norwegian Continental Shelf.

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