"The four wells will be very important to understand the potential of the area," Torvund told journalists at an Offshore Northern Seas conference.
He said the joint venture - which also involves Italian oil and gas company ENI SpA with a small share - is expected to begin drilling the four wells this winter.
All four wells will be located on the Norwegian side of the Barents Sea, with one close to the Russia/Norway disputed areas.
Torvund wouldn't provide any further details, including the cost, but added, "It will be expensive."
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