Statoil expects to start drilling in Barents Sea early 2005

Dec 17, 2003 01:00 AM

Statoil said it expects to start drilling as early as the spring of 2005 in the re-opened areas of the Barents Sea.
"It's very positive for us that the Barents Sea is being reopened after a three-year pause," said Tor Fjaeran, senior vice president for new areas in Exploration & Production Norway. We're looking forward to resuming exploration activities in these waters, and to following up the encouraging results of the last drilling campaign."

The Norwegian government reopened portions of the Barents Sea for petroleum exploration and development, and launched the eighteenth round of licensing, with awards expected before next summer.
Statoil said it will now contact the other operators in these waters in order to establish collaboration over a drilling campaign as early as next autumn.

It also said it the government is offering licenses for many interesting blocks in the North Sea and Norwegian Sea.
The company said it also gives high priority to blocks in the Nordland VI area off Lofoten as well as the Nordland VII and Troms II zones of the Norwegian Sea.

Source: Dow Jones
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