“Our aim is to build a shale exploration portfolio,” Rettedal told reporters at the ONS conference in Stavanger.
Statoil aims to build on the success it has achieved since aggressively entering the US shale scene in 2008, where it has firmly established its presence in the Marcellus, Eagle Ford and Bakken plays.
Earlier this year Statoil bought its way into Australia, farming in to four onshore exploration licences with an initial investment of $25 million, which could escalate to $210 million in subsequent phases.
Rettedal
