Statoil: New agreement creates expectations

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Norway’s Statoil takes a positive view of the new agreement reached on Tuesday between Norway and Russia on the delimitation line in the Barents Sea and the Arctic Ocean.


Statoil believes the agreement may open for the exploration for oil and gas in new areas, Norwegian Broadcasting Corporation reports.

- We know that finds have been made both on the Russian and Norwegian side of the delimitation line. This creates expectations, says Statoil information director Ola Morten Aanestad.

However, he underlines that these are unsheltered waters, and a difficult region in which to carry out oil and gas production.

Read also: Medvedev: Barents delimitation opens up for joint field development