July 2, 2012 / 6:41 AM / 5 years ago

Statoil makes "high impact" gas and condensate find in North Sea

OSLO, July 2 (Reuters) - Statoil has made a significant gas and condensate discovery in the King Lear prospect in the North Sea, the company said on Monday.

The firm said it estimates the total volumes in King Lear to be between 70 and 200 million barrels of recoverable oil equivalent, making it Statoil's eighth high-impact discovery over the last 15 months.

Operator Statoil holds a 77.8 percent stake in the production licences while Total has the remaining 22.2 percent.

Reporting By Victoria Klesty

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