Statoil Strengthens Position on Norwegian Shelf

Statoil was awarded shares in eight exploration licenses on the Norwegian continental shelf. The company is operator on six of the licenses.

"We are very pleased with this year's awards. The annual availability of acreage in mature areas on the Norwegian continental shelf has provided the industry with constancy and formed the basis for the good results we have achieved in our near-field exploration during recent years," said Statoil's Tove Stuhr Sjøblom, senior vice president of exploration on the Norwegian continental shelf.

The award, which comprises 38 production licenses, is split between 25 for the North Sea, ten for the Norwegian Sea and three for the Barents Sea. Statoil has been awarded shares in six North Sea licenses and two Norwegian Sea licenses. The company did not apply for shares in the Barents Sea this time.

"The licenses we have now been awarded will help maximize the utilization of our existing near-field infrastructure. The licenses can provide additional volumes on fields already in production and thereby extend the lifetime of installations."