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.

by OLE ANDERSEN

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.

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Big disappointment for Statoil in the Barents Sea
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Statoil and partners struck oil in the Arctic
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Norway opens up Barents Sea for extensive oil drillings
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