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U.S. B-52, joined by NATO fighter planes, completes Barents Sea exercise

U.S. B-52, joined by NATO fighter planes, completes Barents Sea exercise

Business
Dec. 4 (UPI) -- A U.S. B-52 bomber joined NATO fighter planes for exercises over the Barents Sea, bordered by Norway and Russia, the U.S. European Command announced. The mission emphasized integration exercises over the remote Arctic sea between the bomber from the 5th Bomb Wing of Minot Air Force Base, N.D., and F-16 fighter planes of Greece and Norway. Advertisement They also practiced refueling operations with the involvement of U.S. and Turkish KC-135 aircraft. The U.S. crews flew to their home base immediately after the exercises. The B-52, known as the Stratofortress, has been in use by the U.S. Air Force since 1955. Regarded as a long-range heavy bomber, the plane is capable of flying at 50,000 feet in altitude. The NATO drill, announced Thursday by the U.S. European Command, was t...
New drilling begins in Barents Sea

New drilling begins in Barents Sea

Business
Oct. 9 (UPI) -- New drilling has started in a prospect in the Norwegian waters of the Barents Sea near one of the region's larger discoveries, Lundin Petroleum said.Lundin's subsidiary in Norway said Monday it started drilling an exploration in the Hufsa prospect in the southern waters of the Barents Sea. The well is located just south of the Filicudi and Johan Castberg proven discoveries in Norwegian waters."The Hufsa prospect is estimated to contain gross unrisked prospective resources of 285 million barrels of oil equivalent," the company said in a statement.Johan Castberg was one of the more significant finds in the region in recent years. The field has estimated proven reserves of between 400 million and 600 million barrels of oil, and the Norwegian government said the most recent rev...
Lundin exploring new potential in Barents Sea

Lundin exploring new potential in Barents Sea

Business
Aug. 31 (UPI) -- A new well in Norway's southern waters of the Barents Sea is targeting a prospect thought to hold 244 million barrels of oil equivalents, Lundin Petroleum said.Lundin's subsidiary in Norway said it started drilling an exploration well in the Børselv prospect in the southern Barents Sea. The company said the well is located near the proved Alta and Neiden oil discoveries and about 11 miles northwest of another discovery well."The Børselv prospect is estimated to contain gross unrisked prospective resources of 244 million barrels of oil equivalent," the company said in a statement.Lundin made discoveries near the Børselv prospect about three years ago. A fourth appraisal well was drilled in the Alta discovery in May and the company put the estimated reserves there at between...
More oil and gas possible from the Barents Sea

More oil and gas possible from the Barents Sea

Business
Aug. 28 (UPI) -- A Norwegian energy regulator said Monday it was assessing the extent of the oil available in two wells drilled by Lundin Petroleum in the Barents Sea.The Norwegian subsidiary of Lundin, which has headquarters in Stockholm, completed two appraisal wells in its Alta oil and gas discovery in the Barents Sea recently. According to the Norwegian Petroleum Directorate, about 85 percent of the reserves encountered in the two wells were oil.The company made the initial discovery at the Alta prospect in 2014 and estimated it holds between 125 million and 400 million barrels of oil equivalent."The results from the appraisal wells are important with regard to the further work on mapping the eastern flank of the discovery," the NPD declared in a statement. "The resource estimate will ...
More oil found in the Barents Sea

More oil found in the Barents Sea

Business
July 3 (UPI) -- Norwegian oil company Statoil said Monday it was anticipating more potential near its promising Johan Castberg field after finding oil in a frontier area.The Norwegian Petroleum Directorate, the nation's energy regulator, confirmed the presence of oil in a well drilled about 14 miles southwest of the Johan Castberg field in the Barents Sea. The discovery was made in a wildcat well, one drilled in an area not previously known to hold hydrocarbons."We are particularly pleased to have proven resources in a type of play that has not been explored before," Jez Averty, senior vice president for regional exploration, said in a statement. "This opens interesting opportunities."The NPD put the preliminary size of the discovery, dubbed Kayak, at between 25 million and 50 million barr...