Statoil to exit Chukchi Sea leases offshore Alaska

Statoil is optimizing its exploration portfolio and has decided to exit Alaska following recent exploration results in neighboring leases. The leases in the Chukchi Sea are no longer considered competitive within Statoil’s global portfolio, so the decision has been made to exit the leases and close the company’s office in Anchorage, Alaska.

The decision means Statoil will exit 16 Statoil-operated leases, and its stake in 50 leases operated by ConocoPhillips, all in the Chukchi Sea. The leases were awarded in the 2008 lease sale in Alaska and expire in 2020.

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