Equinor to Boost Drilling to Extend Norwegian Shelf Life
need to use the existing infrastructure in a timely manner, it will not last forever," he added.While the company believes its Norwegian resource potential is as large today as it was a decade ago, each prospect is smaller, making it necessary to drill more and cheaper wells, exploration chief Tim Dodson told a news conference.The company is currently investing heavily to develop the $15 billion Johan Sverdrup oilfield, which will be completed in two stages between 2019 and 2022, as well as the Arctic Johan Castberg and an extension of the Troll gas field."We need to start now. After 2022
Changes in Statoil's Top Deck
Officer. Hegge will become U.S. country manager.John Knight, Statoil's head of global strategy and business development, who is based in London, will be replaced by Al Cook, an executive in the international development and production division, who was once chief of staff to BP CEO Bob Dudley.Tim Dodson remains Statoil's head of exploration."The changes in top management and our business area structure will strengthen our ability to deliver ... as we develop as a broad energy company", chief executive Eldar Saetre said in a statement.In March, Statoil said it was changing its name
Statoil Bags Four Blocks Offshore Brazil
field, where Statoil has a 25% interest**, and BM-C-33, operated by Statoil and currently in the development phase. “We are very pleased with the outcome of this round. We are looking forward to working with our partners to pursue these exciting exploration opportunities”, says Tim Dodson, executive vice president for Exploration in Statoil. “This award is in line with Statoil’s exploration strategy to build on core positions in prolific and proven basins. Access to new quality acreage is an essential prerequisite for further value creation through
Statoil to Drill 5-6 Wells in Arctic Barents Sea in 2018
Barents and the rest will be split between the North Sea and the Norwegian Sea, which are both located further south. "We have tested a lot of potential there (in 2017), and that potential is gone, but we still believe in the overall potential of the Barents Sea," exploration chief Tim Dodson told Reuters on the sidelines of a Statoil conference. Even though the company failed to make any large Barents Sea discoveries from the five wells drilled in the current year, it did make a small oil find, known as Kayak, and the exploration campaign had a positive overall value for the
Statoil May Stop Drilling in US Gulf of Mexico
as a junior licence partner, but the company has failed to strike oil in the drilling campaigns it has operated, despite spending billions of dollars. "Even if the fields we have are paying off, the Statoil-operated exploration campaign could so far be characterised as a failure," Tim Dodson told DN. "We'll consider whether to and how to proceed," he said. Statoil's latest well in the region was drilled some 18 months ago and the company will not spud any in 2017. A Statoil spokesman told Reuters the company is evaluating its work in the region
Statoil to Enhance Exploration Drilling
. More than half of the wells will be drilled on the Norwegian Continental Shelf (NCS). “Taking advantage of our own improvements and changed market conditions, we have been able to get more wells, more acreage and more seismic data for our exploration investments in later years,” says Tim Dodson, Executive Vice President for Exploration in Statoil. This allows us to firm up a strong drilling program for 2017, totalling around 30 exploration wells as operator and partner. The upcoming well program is balanced between proven, well known basins and new frontier opportunities,” says
Update: Statoil Follows Shell out of Alaska
and its stake in 50 leases operated by ConocoPhillips. "Since 2008, we have worked to progress our options in Alaska. Solid work has been carried out, but, given the current outlook, we could not support continued efforts to mature these opportunities," Statoil exploration chief Tim Dodson said in a statement. When it pulled out in late September, Shell had already spent about $7 billion on exploration in the waters off Alaska so far and it later took a charge of $2.6 billion for leaving the Chukchi Sea, where icebergs can be as large as New York's Manhattan Island.
Norway's Statoil to Exit Alaska
Norwegian oil major Statoil said on Tuesday it will pull out of Alaska as its exploration leases in the Chukchi Sea no longer looked competitive. "Since 2008 we have worked to progress our options in Alaska. Solid work has been carried out, but given the current outlook we could not support continued efforts to mature these opportunities," Statoil exploration chief Tim Dodson said in a statement. The firm will exit 16 Statoil-operated leases, and its stake in 50 leases operated by ConocoPhillips. (Reporting by Stine Jacobsen)
Statoil Wins licence Bids in Offshore Canada
position in the Canadian offshore. “The successful bids in these frontier areas offshore Canada are in line with Statoil’s strategy of deepening our position in prolific basins and securing access at scale, while also adding important optionality to our exploration portfolio,” says Tim Dodson, executive vice president for Exploration in Statoil. “The significant exploration investment offshore Newfoundland will provide Statoil an opportunity to further advance our established exploration position in this region through a step-wise approach, while in Nova Scotia, we are able
February 2024
