He said that Statoil is intending to maintain a Norwegian production level of one million barrels per day
Norway's state oil giant Statoil will further increase its focus on the Norwegian continental shelf, the company's CEO Helge Lund said, the Norway Post reported.
He said that Statoil is intending to maintain a Norwegian production level of one million barrels per day until 2015.
Statoil's ambition has previously been to maintain an output in Norway of one million bpd beyond 2010.
Speaking at the group's Capital Markets Day in Stavanger Thursday, Lund said that in order to maintain long-term growth, sustaining production on the shelf is just as important as developing new international core areas.
"In mature areas our efforts will be aimed at improved recovery from producing fields and exploration for and development of resources close to platforms on stream," Mr Lund notes. "In more unexplored provinces, such as in the Norwegian Sea and in the Barents Sea, we will maintain an aggressive exploration programme that may form the basis of new projects and new infrastructure development."
