Statoil is looking to get significantly more bang for its exploration buck this year than in the earlier part of this decade as it lines up 30 wildcats, with some targeting high-impact plays.
The Norwegian state-controlled company has set aside $1.5 billion for exploration activities this year and, whereas this is the same as spent last year, 2016 saw it drill just 23 wells.
Vice president of exploration Tim Dodson told delegates at International Petroleum Week in London that the company is now able to drill wells far cheaper than before, without compromising on the quality of assets being tested.
“We
