Statoil to Drill Nine More Arctic Exploration Wells

Reuters reported that in 2013 Norway’s Statoil (NYSE:STO) plans to drill nine exploration wells in the Barents Sea in an attempt to discover more finds like the Skrugard and Havis oilfields.

As quoted in the market news:

“After our Skrugard and Havis discoveries we still see attractive opportunities here,” said Tim Dodson, head of Statoil’s exploration unit.

Statoil has been involved in 89 exploration wells drilled in the Norwegian Barents Sea so far.

Last year’s big Arctic discovery, the Skrugard and Havis oilfields, are estimated to hold 400 million to 600 million barrels of oil equivalent.

Click here to read the full Reuters report.