Statoil has set anambitious goal of boosting the recovery rate from its Norwegian oil fields by10 percentage points – from 50% today to 60% in the future – and therebyretrieve an additional 3 billion barrels of oil.
Oystein Michelsen, thecompany’s executive vice president for development and production in Norway,said recovery from Statoil’s operated fields has been lifted over the past yearfrom 49% to 50%, representing 327 million barrels of oil.
