Statoil To Drill 9 New Arctic Wells In 2013

Law360, New York (August 28, 2012, 3:12 PM EDT) -- Norwegian energy giant Statoil ASA plans to expand its Arctic exploration activities by drilling nine new wells in the Barents Sea region in 2013 and growing its Arctic research budget to $43 million, Statoil said Tuesday.

Statoil, which has drilled 89 of the 94 wells in the Norwegian Barents Sea, said it will complete the wells in three different locations of its Arctic holdings. Among the locations tabbed for drilling is the Hoop frontier site in the north Barents, the northernmost drilling site ever in Norway,...
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