January 30, 2010
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Statoil Awarded Exploration Licences

Statoil has today been awarded shares in eight exploration licences on the Norwegian continental shelf. The company is operator on six of the licences.

The Norwegian authorities' awards in predefined areas in 2009 (TFO2009) constitute the seventh round since the inception of such mature area awards in 2003.

“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,” says Statoil’s Tove Stuhr Sjøblom, senior vice president of exploration on the Norwegian continental shelf.

Exploration undertaken close to existing fields makes an important contribution towards maximising shelf potential.

The award, which comprises 38 production licences, 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 licences and two Norwegian Sea licences. The company did not apply for shares in the Barents Sea this time.

The company has had record-high exploration activity during the past two years. Most of the wells have been near-field, where discoveries can be brought on stream quickly.

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


- Statoil



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