Statoil to allocate more funds for explorations

Norwegian oil major Statoil is preparing to increase its exploration budget for new fields significantly in 2018, reports E24.

Photo: PR-foto: Statoil

Like several other oil companies on the Norwegian Shelf, Statoil is now also preparing to increase its allocations to exploration for new oil fields, reports E24, citing plans that Statoil presented at its Capital Markets Day in February, according to the Norwegian media.

E24 writes that Statoil will this year increase its exploration budget to USD 1.5 billion in 2018, and Statoil will use these funds to drill around 40 wells.

Read the whole article

Get 14 days free access.

No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Further reading

Related articles

Latest News

See all jobs