Statoil starts work on IOR research center

Aiming to boost its oil-recovery rate on the Norwegian continental shelf to 60%, Statoil has begun construction of a 240 million krone ($41.7 million) research center for improved recovery at Trondheim, Norway.

At a ground-breaking ceremony, Statoil Chief Executive Officer Helge Lund said Statoil fields offshore Norway for the first time last year achieved an average recovery rate of 50%. The average recovery rate of the Norwegian continental shelf is 47%, according to Statoil.

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