New oil field discovered in North Sea
The biggest discovery of oil in the North Sea for more than a decade has been announced.
PanCanadian Energy says the field, 100km north east of Aberdeen, will yield up to 400 million recoverable barrels of oil.
Previous estimates were put at between 100 and 200 million barrels from the Buzzard Field which the company already drills.
The announcement has been welcomed by Britain's energy minister Brian Wilson, who said: "This is a prime example of why we are working so hard with industry to get offshore blocks in the hands of the right operators.
"This is the biggest North Sea discovery since the Nelson Field in 1988 and confirms that there are still huge prizes to be won."
The company, in partnership with British Gas and Edinburgh Oil and Gas already operates the Buzzard Field and had been exploring for further oil.
