Further drilling to assess the discovery has started
Faroe Petroleum has made an oil discovery in the Norwegian North Sea.
The Aberdeen company has a 15 per cent stake in the Butch prospect alongside Centrica,Suncor Norge and Spring Energy Norway.
A further well is being drilled to assess if there is more oil available in the area.
Graham Stewart, chief executive of Faroe, said: "We are very pleased to announce a discovery on the Butch Prospect, which is our second successful exploration well this year, following the announcement of the west of Shetland Fulla discovery in August and our sixth discovery from eight exploration wells since 2009.
"The Butch discovery is very exciting with further upside potential from the planned side-track well.
"Alongside our joint venture partners in the licence we very much look forward to the further evaluation of this discovery."
Faroe intends to drill two more exploration wells in Norway before the end of the year.