Norwegian energy company Statoil said Friday it planned to spend more than $100 million to tap into new a oil and gas discovery in the North Sea. Statoil and its partners said they submitted plans for the development and operations of the Byrding oil and natural gas discovery to regulators. A capital spending target of $120 million will help, through the use of existing infrastructure, exploit a basin estimated to hold as much as 11 million barrels of oil equivalent. The Norwegian energy company said the Byrding reservoir will complement volumes from nearby operational facilities. “Byrding will add new profitable volumes from the Troll/Fram area, boosting the activity and production on the Troll C platform,” Gunnar Nakken, a regional vice president for […]