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Norway’s Statoil Plans Four Oil Wells in Russia Amid Sanctions

Statoil ASA plans to drill four wells in Russia with state oil company OAO Rosneft, showing Norway’s biggest energy producer is deepening its involvement in the country against the backdrop of international sanctions.

Statoil plans to drill two wells at a heavy-oil pilot project in western Siberia this year and two offshore wells in the Sea of Okhotsk in 2016, said spokesman Knut Rostad.