Offshore staff

STAVANGER, Norway – Statoil plans to raise its R&D investments by 27%, to support its goal of lifting production from 1.9 MMboe/d in 2010 to 2.5 MMboe/d in 2020.

It has prioritized four technology areas:
1. Seismic imaging and interpretation, to assist with making further discoveries
2. Reservoir characterization and recovery
3. Efficient well construction, the aims being to reduce well construction times by 30% and well costs by 15%, both by 2020
4. Achieving subsea compression by 2015 and completing a “subsea factory” by 2020, the aim being to accelerate and boost production.

“For 2012 we are increasing our R&D investments by 27% to NOK 2.8 billion ($464.5 million),” said Øvrum Margareth Øvrum, Executive VP for Technology, Projects and Drilling. “We are also planning for a further increase in our R&D activities going forward. In addition, we have specific plans to expand our R&D Center at Rotvoll in Trondheim to provide room for Norway’s biggest IOR Center.

“Our technology advances would not have been possible without the solutions developed by an innovative and dynamic supplier industry, as well as by universities and research institutes. In order to succeed in our four prioritized technology areas we require new solutions and closer cooperation with our suppliers, national and international research milieus, and other partners.”

01/11/2012