Statoil plans to remain in the Gulf of Mexico

Although it will be “more cautious” in its exploration spend offshore the US, Statoil’s exploration chief told Reuters that it still plans to remain in the region.

Offshore staff

LONDON – Although it will be “more cautious” in its exploration spend offshore the US, Statoil’s exploration chief told Reuters that it still plans to remain in the region.  

This comment is the latest in a run of speculation and reports concerning whether or not the Norwegian giant would exit theUS Gulf of Mexico. While Statoil has been a partner in several GoM discoveries, it has not struck pay in its operated campaigns.

“We don’t have any plans to divest ... But on the exploration side we have to make a call on whether we are to continue, and I assume that we will,” Tim Dodson, Statoil’s executive vice president, Exploration, told Reuters yesterday at an investor conference in London.

A final decision on the company’s GoM plans will come within a few weeks, Dodson said.

02/08/2017

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