Oil Search in Norway's New Arctic Area Is Safe, Statoil Says
- Industry studies show low risk of any spill reaching ice cap
- Government to award licenses in new Barents Sea area this year
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Ice, extreme temperatures and a vulnerable environment are all surmountable challenges as drillers set out to hunt for oil in a new area of Norway’s Arctic Barents Sea, according to Statoil ASA and other explorers.
Studies by Statoil and 15 other companies such as Royal Dutch Shell Plc show there have been only a “few days” of sea ice in the northernmost blocks since 2003, and south of that even less, said Aashild Tandberg Skjaerseth, chair of the Barents Sea Exploration Collaboration, a venture set up by the companies. It’s also unlikely that any spill would reach the polar ice cap as oil and sea ice tend to drift in the same direction, she said.