Patience is paying off for an oil reserve area discovered 30 years ago that’s now ready to deliver for Norway at a lower cost, energy major Statoil said. The Norwegian energy major, which is part-owned by the government, said it submitted a plan for development to Petroleum Minister Tord Lien for the Trestakk discovery. Confirmed in 1986, the discovery holds about 76 million barrels of recoverable oil equivalent, and most of that exists as oil. “Trestakk is a good example of what is possible to achieve through spending time on working toward the best concept selection,” Torger Rod, the head of project development for Statoil, said in a statement. “By rethinking our concept along with license partners and […]