Connection between Aldous and Avaldsnes oil discoveries established

Statoil (OSE: STL) said that the recent oil find in the North Sea is even bigger than expected as communication between Aldous and Avaldsnes oil discoveries has been confirmed. If combined, this is a top ten oil discovery in Norway and largest since mid-eighties. The companies involved are Statoil, Lundin Petroleum AB (STO:LUPE), OMX: Maersk Oil of A.P. Moller – Maersk Group (OMX: MAERSK A, OMX: MAERSK B) Petoro AS and Det norske oljeselskap’s (OSE: DETNOR). Production is expected to start towards the end of this decade.