MOSCOW (Sputnik) — KUFPEC's Kristian Krakenes said that the seismic images obtained for the area through the use of a new technology, shows the possibility of existence of oil reservoirs.
"We see several areas that are reasonably shallow, which are large in size and may contain reservoirs. This includes the area near the Norwegian-Russian delimitation line in the southeast of the Barents Sea," Krakenes said, as cited by The Local news outlet. "If all the projections are correct and all uncertainties turns out positive so we are talking about billions of barrels."
Oil and gas exports play an important role in the Norwegian economy, Norway is the world's 8th largest exporter of crude oil.
