New natural gas discoveries on the Norwegian continental shelf could hold “significant” quantities of reserves, a subsidiary of Austria’s OMV said Wednesday. The Norwegian subsidiary said it made discoveries at the Hades and Iris targets in the Norwegian Sea. The company put the combined reserve estimate at between 40 million and 245 million barrels of recoverable oil equivalent. “Hades and Iris could be of significant size and the licensees will evaluate and further investigate the potential of the discoveries,” Knut Mauseth, the managing director of OMV Norge, said in a statement. The targets are close to existing infrastructure from fields already in production in the Norwegian Sea. The Norwegian Petroleum Directorate, which confirmed the discovery, said the partners would progress […]