Statoil Gears up for Barents Exploration

Statoil aims to conduct a major exploration campaign in parts of the Barents Sea in 2017 and is looking to bolster its position there by acquiring interests from other companies, it said August 30.

“We want to explore the Blamann prospect in the Goliat area, Koigen Central in PL718 on Stappen High and the Korpfjell prospect in PL859 that was awarded in the 23rd licensing round,” said Jez Averty, Statoil’s head of exploration on the Norwegian continental shelf (NCS).

In addition to an exploration well in PL849 (Blamann), which was awarded in January 2016 under the APA 2015 round, Statoil and Goliat operator Eni have agreed on drilling a new exploration well in PL229 (Goliat) in 2017. Statoil has already a rig on contract, suitable for operation in the Barents Sea. It is also working on obtaining approval from partners and authorities for an exploration campaign in 2017 for between five and seven wells there.

During recent months Statoil has entered or increased its share in five licences in the Norwegian part of the Barents Sea by a number of agreements with Norwegian independent Point Resources, Germany-based DEA, Austria's OMV and ConocoPhillips (see table below).

Recent transactions by Statoil involving Barents Sea licences (Source: Statoil)

Statoil did not say how much of its new exploration campaign would be gas-directed; however in early August it said that it will shortly drill its first production well on the Snohvit gas field since 2007, in order to maintain feed gas supplies to its nearby onshore liquefaction complex.  

Mark Smedley