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Statoil announces well pleased with the APA 2012 awards

Wednesday, Jan 16, 2013

Statoil was awarded interests in 14 production licences on the Norwegian continental shelf, of which 7 are operated by Statoil.

The broad award reflects Statoil's extensive application. In this Awards of Predefined Areas (APA) round Statoil has applied for production licences in the North Sea, the Norwegian Sea and the Barents Sea based on established and new geological play models.

"We are very pleased with this year's awards," says Gro Gunleiksrud Haatvedt, senior vice president for exploration on the Norwegian continental shelf (NCS). "It gives us a good foundation for further developing the NCS as a core area for Statoil in line with our sharpened exploration strategy."

The exploration results achieved during the last years have proven that mature areas on the NCS are still offering great opportunities. They can provide valuable additional resources close to existing infrastructure and there may also be potential for bigger discoveries that may lead to stand-alone developments.

"Statoil strongly believes in the NCS exploration potential, and during the last years the company has further confirmed this potential by making a number of exciting oil and gas discoveries," says Haatvedt. "We have the knowledge and the expertise, and we are well prepared for taking on new exploration assignments."

"Access to new quality acreage is an essential prerequisite for further value creation through exploration activities and for maintaining the NCS production level beyond 2020," she underlines.

Source: Statoil

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