World of oil and gas ///

Statoil has completed its 2013-2014 exploration program in the Barents Sea. This represents an all-time high for exploration activity, as well as 10% of all exploration wells drilled in the Barents Sea since its opening in 1980. “A commitment of this size and complexity requires geological, technological and organizational muscle, and the data collected are important for the future understanding of the oil and gas potential in the Barents Sea,” says Statoil’s Irene Rummelhoff, senior V.P. for exploration on the Norwegian Continental Shelf. “It has been argued that the exploration program has had limited success. Indeed, we have made fewer commercial discoveries than we had hoped for. However, there are a number of things that I take pride in. We have tested a great variety of geological plays in frontier areas and dramatically increased our knowledge with the huge amount of subsurface data we have collected,” Rummelhoff added.

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