Statoil Plans Aggressive Exploration In Norway For 2014

Hira Shahnawaz Akhtar

Published onNovember 14, 2013

Statoil ASA (ADR) (NYSE:STO) has recently announced that it plans to drill twenty to twenty-five new exploration wells in the Norwegian continental shelf in 2014. Of the wells planned for 2014, two-thirds will be Statoil operated, ensuring the execution of these drilling plans.

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Statoil to build upon prior success

Statoil ASA (ADR) (NYSE:STO) has enjoyed exploration success in this area in recent months and wants to build upon this success to discover further oil and gas, especially in adjacent fields. Statoil claims to have discovered more oil and gas in 2013 than any other company. Furthermore, the success rate in the Norwegian continental shelf is claimed to be 70 percent for Statoil while the industry average success...

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Hira Shahnawaz Akhtar

Hira is a financial analyst whose expertise lies in commodity and other financial markets. Hira is currently an independent financial consultant and is working with many international firms like American Arab Solutions (AAS). She has previously served as a Senior Research Analyst at Alternate Research (Pvt.) Ltd. as the Team Leader for the International Equities Research. She has also worked as an equities analyst of Pakistani E&P stocks at Invest Capital Markets. She has experience in business development and conducting feasibility studies in commodity markets, specifically in sugar, palm oil and canola oilseeds. She has cleared all three levels of her CFA (Chartered Financial Analyst) and has an undergraduate degree in Finance.

Statoil Plans Aggressive Exploration In Norway For 2014

Statoil to build upon prior success

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