DNO Makes North Sea Discovery

Norwegian oil and gas operator DNO and its partners have made an oil and gas discovery in the "Kjottkake" prospect in the North Sea, the Norwegian Offshore Directorate said on Friday.

The authority said preliminary calculations indicate that the discovery holds recoverable reserves of between 38.4 and 74.2 million barrels of oil equivalent.

"The licensees will consider a potential development and further follow-up of the discovery alongside other discoveries and prospects in the vicinity," it said in a statement.

DNO holds a 40% stake in the exploration permit while Aker BP AKRBP.OL holds 30% and Japex Norway and Concedo each hold 15%.

(Reuters)