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Statoil Discovers More Gas In The Barents Sea

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Hira Shahnawaz Akhtar
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Statoil ASA (NYSE:STO) has recently made a gas discovery in the Iskrystall field in the Barents Sea. The field is operated by Statoil with a 50 percent share in joint venture with Eni Norge AS (30 percent share) and Petoro AS (20 percent).

"Well 7219/8-2, drilled by the drilling rig West Hercules, has proved an approximately 200 metre gas column. After completion of Iskrystall, the West Hercules rig will move back to the production license 532 to drill the Skavl prospect. Skavl is situated approximately 5 km south of the Skrugard discovery (now part of Johan Castberg)," reports Statoil ASA (NYSE:STO).

Iskrystall is one of the four prospects in Johan Castbern area

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Hira is a financial analyst whose expertise lies in commodity and other financial markets. Hira is currently an independent financial consultant and is working with many international firms like American Arab Solutions (AAS). She has previously served as a Senior Research Analyst at Alternate Research (Pvt.) Ltd. as the Team Leader for the International Equities Research. She has also worked as an equities analyst of Pakistani E&P stocks at Invest Capital Markets. She has experience in business development and conducting feasibility studies in commodity markets, specifically in sugar, palm oil and canola oilseeds. She has cleared all three levels of her CFA (Chartered Financial Analyst) and has an undergraduate degree in Finance.