Frøy discovers an oil field

Located mainly in block 25/5, with some reserves in block 25/2, this Frøy field lies in the Hugin and Sleipner formations about 3 000 metres below ground and in 120 metres of water. It was covered by production licences 026 and 102, awarded in 1969 and 1985 respectively. The Storting (parliament) approved a development of Frøy in May 1992.

In addition to operator Elf Aquitaine Norge, with roughly 25 per cent, the other licensees were Total with 15 per cent, Hydro with six per cent and Statoil with 54 per cent ­- including 42 per cent for the state’s direct financial interest (SDFI).