Lundin Petroleum Finds Arctic Oil

Swedish oil firm Lundin Petroleum has confirmed the size of a significant oil discovery in the Arctic, the company said on Monday after completing a second well.

The Gohta discovery in the Norwegian section of the Barents Sea is now estimated to contain between 111 and 232 million barrels Of oil equivalent (boe), compared with 105-235 million boe seen in October last year.

Lundin Petroleum's partners in the production license, called PL492, are Norway's Det norske and Noreco.

(By Gwladys Fouche)