Statoil's oil and gas production in North America continues to show strong growth. In the last decade, Statoil's North American portfolio had a Compound Annual Growth Rate of more than 20% and the company projects a strong growth rate also going forward.
"Average production from our US and Canadian fields in the first quarter 2012 was 149,000 barrels of oil equivalent (boe) per day – up as much as 75% compared to the corresponding quarter in 2011. We are on track to reach our ambition of producing above 500,000 boe per day in 2020," says Bill Maloney, executive vice president and head of Statoil's Development and Production business area in North America.
At its US investor day in New York today, 20 June 2012, Statoil executives presented achievements and ambitions for the North American upstream activities.