Following a two-year hiatus, Statoil is back drilling in the Barents Sea. There are several motivating factors behind this, one being that the costs related to oil explorations have decreased significantly, and that it thus now pays better for the company to search for oil.
"It will be very exciting. Now we will test what could end up creating the next chapter in Norway's oil narrative," says Jez Averty, Head of Statoil's activities on the Norwegian and UK shelves, according to sysla.no.
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