The Norwegian government confirmed Wednesday an oil and gas discovery was made in a North Sea area not previously known to contain hydrocarbons. The Norwegian Petroleum Directorate confirmed a discovery was made in a wildcat well about eight miles south of the Brage field in the North Sea. A wildcat well is one drilled into an area not previously known to contain oil and gas and the NPD said a well drilled by Faroe Petroleum may hold between 42 million and 80 million barrels of oil equivalent. According to Faroe, the Brage field is producing around 20,000 barrels of oil equivalent per day. The NPD said oil production in April, the last full month for which data are available, averaged […]