A Spanish energy company discovered the largest onshore oil reserve in 30 years while drilling in Alaska. The reserve found by Repsol and its partner Armstrong Energy could contain as much as 1.2 billion barrels of light oil, the company said in a press release Thursday.
The well was found near the village of Nuiqsut in North Slope, Alaska, where the companies began exploring in 2008. Multiple reserves have been found since then, though none as large.
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