Skip to content
Subscriber Only

Statoil Plans to Step Up Exploration After Driving Down Costs

  • Early plans for 25-30 wells in total for Norway in 2018
  • Statoil set for second consecutive year of exploration boost
World's First Floating Offshore Windfarm
Photographer: Carina Johansen/Bloomberg
Updated on

Statoil ASA plans to step up drilling in Norway for a second consecutive year, in the first indication it has given of its exploration plans for 2018.

Statoil is looking at 25 to 30 exploration wells in Norway next year, both as operator and partner, Atle Reinseth, vice president for tie-back & brownfield projects at Statoil, said at a conference in Stavanger on Wednesday. The figure represents an early “frame” that will depend on factors such as partner approval and rig allocation and the actual level may be either higher or lower, spokesman Morten Eek added in an email.