Statoil focuses on Norwegian far north

Statoil has applied for new production licenses in the Barents Sea and the Norwegian Sea under Norway’s 21st licensing round.

Offshore staff

STAVANGER, Norway -- Statoil has applied for new production licenses in the Barents Sea and the Norwegian Sea under Norway’s 21st licensing round. Fifty-one blocks have been made available in the Barents Sea and 43 in the Norwegian Sea.

Today is the deadline for bids. Awards should be issued next spring.

“The NCS is important to Statoil,” says Tom Dreyer, vice president for exploration on the NCS. “The application we are submitting is comprehensive, and we expect a good outcome.”

Tom Dreyer, VP for Exploration on the Norwegian continental shelf, said: “Access to new attractive exploration areas is essential for us to be able to confirm the existence of new resources, which in turn could form the basis for standalone developments and create positive spin-offs.”

Over the past few years Norway’s government has awarded new acreage through regular licensing rounds every other year.

“To ensure a good exploration portfolio for the years ahead we need this predictable licensing policy from the authorities,” Dreyer said.

In the Norwegian Sea, Statoil is assessing prospects for a deepwater development of Luva. In the Barents Sea, the company has started a new exploration drilling campaign which targets the Skrugard prospect awarded in the previous licensing round.

In areas of the Barents Sea opened to petroleum activities, Statoil says it operates 63 of the 83 wells drilled to date.

11/03/2010

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