Statoil's Canadian oil find could hold 600 mln barrels

Thu Sep 26, 2013 2:08am EDT
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OSLO, Sept 26 (Reuters) - Statoil's Bay du Nord oil discovery offshore Canada, first announced in August, could contain between 300 million and 600 million barrels of recoverable oil, the state-owned Norwegian firm said on Thursday.

The discovery, around 500 kilometres (300 miles) northeast of St. John, is near Statoil's previous Harpoon and Mizzen discoveries, it added.

Statoil operates all three of the Canadian licences and holds a 65 percent stake while Husky Energy has a 35 percent interest.