By Dominic Chopping

Norway's Statoil ASA (STO) said Monday that with its partners they have completed a two-well programme in the Krafla area in the North Sea, and they now expect discovered recoverable resources in a range of 140-220 million barrels of oil equivalent.

It said that since 2011 it has made five discoveries in the Krafla area.

Statoil is the operator of PL035/PL272 with an interest of 50%. The partners are Svenska Petroleum Exploration AS (25%) and Det norske oljeselskap ASA (25%).

-Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter: @WSJNordics

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