The latest preliminary estimates from exploratory wells showed volumes between 60 million-135 million barrels of recoverable oil equivalents, Vaar said in a statement

OSLO: Vaar Energi, a majority owned unit of Italy’s Eni, has made a “significant” discovery of new oil resources in the mature Balder area of the southern Norwegian North Sea, the company said.

The latest preliminary estimates from exploratory wells showed volumes between 60 million-135 million barrels of recoverable oil equivalents, Vaar said in a statement.

“The discoveries prove that there are still opportunities in the mature areas on the Norwegian Continental Shelf,” said Torger Roed, CEO of Vaar Energi.