Statoil has been given the go-ahead for its latest wildcat.
The Norwegian Petroleum Directorate approved Statoil’s plans to drill a well 11km southwest of the Norne field.
The Norne field located about 80 kilometres north of the Heidrun oil field in the Norwegian Sea. Production began in 1997. It produces about 70,000 barrels of oil per day. Production was originally due to stall in 2014; however, Statoil later revealed plans to keep it pumping through 2030.
The Deepsea Bergen will drill the wildcat under production licence 159 B.
Statoil owns an operator interest in the well of 85%. Dong owns the remaining 15%.
Earlier this year, Statoil confirmed it would increase its exploration in 2017 by 30%. It includes five new wells in the UK North Sea. To find out where the oil major will be concentrating the bulk of its exploration efforts click here.