Large gas field found north of Schiermonnikoog

A consortium of companies discovered a "commercially interesting" gas field in the North Sea, about 20 kilometers north of Schiermonnikoog. According to the companies, the discovery exceeded expectations, ANP reports.

The gas field was found during exploratory drilling by a consortium consisting of Hansa Hydrocarbons. Oranje-Nassau Energie and EBN. Hansa CEO John Martin spoke of a "substantial volume" of gas. The field stretches into the German waters. More wells will need to be drilled to get a good view of the field and to eventually mine the gas. According to ANP, this could take another four or five years.

Martin would not say exactly how much gas the field contains, but according to Financieele Dagblad, its around 60 billion cubic meters - the largest find in years.