November 28, 2017 / 8:23 AM / a year ago

Statoil to drill 5-6 wells in Arctic Barents Sea in 2018

OSLO, Nov 28 (Reuters) - Norway’s Statoil will continue to drill for oil in the Arctic Barents Sea next year even though its 2017 campaign was mostly disappointing, the company’s head of exploration told Reuters on Tuesday.

Statoil plans to drill between 25 and 30 wells in Norwegian waters in 2018, of which five or six are expected in the Barents and the rest will be split between the North Sea and the Norwegian Sea, which are both located further south.

“We have tested a lot of potential there (in 2017), and that potential is gone, but we still believe in the overall potential of the Barents Sea,” exploration chief Tim Dodson told Reuters on the sidelines of a Statoil conference. (Reporting by Nerijus Adomaitis and Joachim Dagenborg, editing by Terje Solsvik)

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