STATOIL 2017: EXPLORATION DRILLING UP 30%

January 05, 2017

Statoil 2017 program will see the drilling of around 30 exploration wells, an increase of around 30% compared to 2016. More than half of the wells will be drilled on the Norwegian Continental Shelf (NCS). In 2016, Statoil completed a total of 23 exploration wells as operator and partner – 14 of them on the NCS. In Norway, the 5-7 well exploration campaign in the Barents Sea is at the core of the activity plan. In The Norwegian Sea and the North Sea, the ambition is to prove near field volumes to prolong the productive lifetime of existing infrastructure and determine the growth potential. In total, Statoil expects 16-18 NCS exploration wells to be completed in 2017. New discoveries are crucial to counteract decline om the NCS. Internationally, Statoil’s 2017 exploration drilling activity will comprise growth opportunities in basins where Statoil already is established with discoveries and producing fields, as well as new frontier opportunities. (Source: Statoil)