Robert F. Bukaty, AP
Norwegian energy company Statoil says drilling works off the Canadian coast have uncovered a major oil field that could contain as much as 600 million barrels of recoverable crude.
Statoil says the discovery is approximately 500 kilometers (300 miles) northeast of St. John's, Newfoundland, and is the third large find made in the Flemish Pass region since June.
The company says oil from all three discoveries is approximately under 1,100 meters (1,200 yards) of water.
A company executive said Thursday that the latest discovery would bring Statoil "one step closer to becoming a producing operator in the area."
Statoil owns a 65 percent stake in the three discoveries, while Canada's Husky Energy owns the remaining 35 percent.
- Pope in blistering critique of Vatican...
- NYPD: Cop ambush killer told passers-by to watch
- 9 films advance in Oscars shortlist for best...
- The Associated Press' top 10 movies of the year
- 10 years on, where did all the tsunami debris...
- 'Hobbit' goes out on top with $90.6 million...
- Spain hands out $3B in planet's biggest lottery
- Police: Fugitive killed Florida officer
- Vermont governor abandons single-payer... 33
- Forget Santa Claus, Virginia. Was there... 19
- Police boss: NYC cops 'quite simply,... 17
- A post-election flurry: Obama tests his... 16
- NYPD: Cop ambush killer told passers-by... 13
- Going it alone, Obama rocked the boat... 9
- Utah mourners for Pakistani children... 8
- Obama declares 2014 'a breakthrough... 7