Statoil awarded new oil exploration acreage on the Norwegian shelf

Source: Statoil

Today, Statoil was awarded ownership interests in eleven production licenses on the Norwegian shelf. Statoil will be the operator in eight of the licenses.

In this APA round (Awards in Predefined Areas), Statoil applied for more areas than has been the case in recent years, submitting a targeted application reflecting its new exploration strategy for the Norwegian shelf.

This exploration strategy entails early access to attractive exploration acreage, with prioritization of "high-impact" opportunities and optimization of the company’s core areas.

“We are very pleased with this year’s awards. Most of the licenses are in the mature areas of the North Sea, which is an important core area for Statoil. Access to acreage around existing installations is an important precondition for maximizing potential on the Norwegian shelf,” says Gro Gunleiksrud Haatvedt, Statoil’s director of exploration on the Norwegian shelf.

Statoil’s awards:

-- Nine production licenses in the North Sea, of which eight as operator. These licenses are located in the areas around Oseberg, Gullfaks, Sleipner, Statfjord and Troll, as well as on the Utsira High.
-- Two production licenses in the Norwegian Sea as partner. Both licenses are near the Norne/Skarv area. 

“Utsirahigh in the North Sea has occupied a prominent position on our list of priorities. It is most certainly an exciting exploration area where we are already well-established, and where we have built up a sound understanding of the geology. Although we have made a number of significant discoveries recently, it is still very important that we have access to new acreage in order to curb the decline in production on the Norwegian shelf after 2020,” says Haatvedt.


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