STAVANGER, Norway, Nov. 8 (UPI) -- Norway's Statoil is well suited for an ambitious exploration plan for the Barents Sea, with safety a top goal, an official of the energy company said.
Statoil plans to drill at least five new exploration wells in the region next year and Gro Haatvedt, a vice president in charge of regional exploration, said Thursday, "We have a solid understanding of the subsurface and are well prepared to conduct safe and secure operations in this area of the Norwegian Continental Shelf."
Statoil and Austrian energy company OMV announced the discovery of at least 60 million barrels of oil and 10 billion cubic feet of recoverable natural gas in the shallow waters of the Barents Sea in September.
Environmental groups, including Greenpeace, have expressed concern about the safety of oil and gas work in extreme northern climates like that in the Barents Sea. In August, Greenpeace shadowed a Russian oil vessel to protest its work in the region.
Overall, Statoil plans to drill as many as many as 25 new exploration wells on the Norwegian shelf. The company said it has a 70 percent success rate with exploration campaigns offshore compared to an industry standard of 49 percent.
"This confirms that our exploration strategy is paying off," Haatvedt said.
