Statoil Will Focus Exploration on Home Turf in 2018 to Curb Risk

Norway’s Statoil ASA will focus exploration on its home turf next year as it seeks more oil and gas to run through existing platforms rather than gigantic deposits in frontier areas.

 While global plans aren’t yet complete, it’s clear that the bulk of efforts will be in the company’s own backyard, exploration head Tim Dodson said Tuesday. He confirmed that Statoil plans to participate in 25 to 30 exploration wells off Norway next year, with as many as two dozen of those split between the North and Norwegian seas, where platforms have long been in place.

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