Statoil is pleased to announce an exciting exploration programme in Norway also in 2014, building on the exploration successes of recent years.

Statoil plans to drill 20-25 exploration wells on the Norwegian continental shelf (NCS) in 2014, of which around two-thirds will be Statoil-operated.

"Statoil's exploration success rate on the Norwegian continental shelf has been over 70% the last five years, compared to an industry average of 49% (*).

This confirms that our exploration strategy is paying off," says Gro G. Haatvedt, senior vice president for NCS exploration in Statoil.

Statoil has a diversified exploration portfolio on the NCS targeting both growth prospects, opportunities in frontier areas and selected prospects in mature areas which can be tied into existing infrastructure.

"We believe that our competence and experience throughout the value chain give us an advantage when prioritising the right prospects, performing efficient exploration and ensuring value creation," says Haatvedt.

Tags: Statoil