Statoils got oil exploration plans in the Barents Sea next year

The Barents Sea has many interesting prospects. (Illustration: Statoil)
- It takes excloration to find discoveris, says Jez Averty, Statoils senior vice president for exploration in Norway.

- It takes excloration to find discoveris, says Jez Averty, Statoils senior vice president for exploration in Norway.

Norwegian state owned oil and gas company Statoil has made plans a major exploration campain in the Barents Sea during 2017 and 2018.

The company has been working systematically to put together an exploration portfolio with good prospects that can be tested during forthcoming operations, to commence in March or April 2017. They´re currently working to ensure partner and regulatory approval to drill between five and seven exploration wells in total.

- We can see promising prospects in various parts of the Barents Sea. For example, we want to further explore the Blåmann prospect in the Goliat area, the Koigen Central in licence 718 on the Stapp height and Korpfjell prospect in licence 859, which was awarded in the 23rd licensing round this may, says Jez Averty.

Statoil and licence operator ENI has made an agreement to drill a new exploration well in Goliath in addition to an exploration well in licence 849 (Blåmann).


Increased their share

Recently, Statoil has strengthened its position in the Barents Sea through several transactions with other companies. Within only a few months, Statoil has entered into, or increased their share in five licenses in the Norwegian sector of the Barents Sea as a result of agreements made with Point Resources, DEA, OMV and ConocoPhillips.

- These transactions provide access to new areas, but also shows our faith in the exploration potential of the Norwegian continental shelf, says Averty. He points out that Statoil now has had a leading role in the Barents Sea for a total 40 years.

- We are a guarantor of continued high exploration activity in the north, he says. The new agreements increases our presence in both the Hoop area and Johan Castberg.


Crucial new discoveries

In order to maintain the current production levels on the Norwegian continental shelf until 2030 and beyond, it is crucial to make new significant discoveries. Many companies have high expectations for what might lie in the Northern region. In consequence, a major exploration campaign was carried out in 2013 and 2014 in the Barents Sea. That campaign made discoveries that added important volumes to Johan Castberg, but no major significant discoveries.

- It is a long term process to explore, and it requires patience, says Averty. The information gathered in previous exploration campaigns is used in an effort to try to understand the potential of oil and gas in the Barents Sea and where to find it.

- We are working actively to refill  the exploration portfolio through allocations from the government, cultivating new ideas to existing licenses and agreements with other companies to acquire licenses. This provides a good base for exploring several interesting opportunities, says Averty.



Jez Averty, Statoils senior vice president for exploration in Norway. (Photo credit: Kjetil Visnes/Statoil)
Jez Averty, Statoils senior vice president for exploration in Norway. (Photo credit: Kjetil Visnes/Statoil)

Tags

Newsletter

Stay on top, click here for our weekly newsletter: