Norwegian oil company StatoilHydro ASA said Monday it had discovered more oil off the country's southwestern coast. The discovery, near the Sleipner oil field in the North Sea, is estimated to be 100-125 million barrels, the company said. Total SA and Exxon Mobil Corp. also have stakes in the new oil well. The oil was discovered under a gas field located 30 years ago and is part of an effort by StatoilHydro to revisit previously explored areas of the Norwegian Continental Shelf. StatoilHydro also announced a deep-water discovery of some 4 billion cubic meters (141 billion cubic feet) of recoverable gas in the Norwegian Sea, 290 kilometers (180 miles) off the northern coast. Exxon Mobil and Conoco Phillips are partners with StatoilHydro in this find.
