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Statoil to increase exploration drilling in 2017

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Staff Writer | January 6, 2017
Statoil plans to drill around 30 exploration wells in 2017, an increase of around 30% compared to 2016.
Statoil
Oil exploration and production   The Norwegian Continental Shelf
More than half of the wells will be drilled on the Norwegian Continental Shelf (NCS).

In 2016, Statoil completed a total of 23 exploration wells as operator and partner – 14 of them on the NCS.

The total exploration activity, also including a.o. licensing, access and seismic data acquisitions, was completed well below the original forecast due to efficiency improvements and market effects.

In Norway, the 5-7 well exploration campaign in the Barents Sea is at the core of the activity plan.

In The Norwegian Sea and the North Sea, the ambition is to prove near field volumes to prolong the productive lifetime of existing infrastructure and determine the growth potential.

In total, Statoil expects 16-18 NCS exploration wells to be completed in 2017. New discoveries are crucial to counteract decline on the NCS.

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