Licence bid submitted
An application for Norway's 16th offshore licensing round was submitted by Statoil on 31 January, within the deadline set by the authorities.
The Norwegian continental shelf will remain a very important focus of the group's exploration and development efforts for many years to come, says project manager Marit Berling.
But she notes that Statoil needs to improve the quality of its Norwegian exploration portfolio, and that it requires new assignments in both exploration and development.
"In the longer term, these awards could yield additional development jobs which can help to safeguard jobs both in Statoil and in the supplier industry," says Ms Berling.
A total of 48 blocks are on offer in the 16th round, spread over a large area of the Norwegian Sea between the 62nd and 68th parallel.
It will probably be possible to secure new resources which can be produced with the aid of existing infrastructure, says Ms Berling. At the same time, prospects in geologically more uncertain areas will also be tested.
Ms Berling notes that Statoil has built up a good understanding of regional geology in the Norwegian Sea over a number of years.
The Ministry of Petroleum and Energy plans to announce licence awards around Easter.