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Statoil's oil drillings in the Barents Sea disappoint

The oil and gas discoveries in Statoil's drillings in the Barents Sea this year have been disappointing, acknowledges the Norwegian oil major. But the program was cheap, says CFO.

Photo: Harald Pettersen - Statoil

The discoveries in four out of five of Statoil's planned oil drillings in the Barents Sea have disappointed, acknowledges the oil major's CFO, Hans Jakob Hegge, according to Norwegian media Dagens Næringsliv. However, he describes the drilling program as moderately successful.

"The success lies in the fact that the drilling program was cheap, that we had high operational efficiency, and that we did not have any serious accidents or other events."

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