Statoil ASA

Rosneft issued a statement that the company plans to drill two exploratory offshore wells in the RF jointly with Statoil in 2016.

“In 2015, the company is planning to conduct preparatory work for the shelf drilling in 2016. This work entails the preparation of logistics bases in Sakhalin, Murmansk Region and Magadan, as well as geological and engineering research in Magadan. In 2016, the company plans to drill two exploratory wells jointly with Statoil. They are planning to drill two wells in the Black Sea,” the statement regarding the meeting between the head of Rosneft Igor Sechin and Russian President Vladimir Putin reads.

In 2013, Rosneft and Statoil announced the finalization of deals on the development of sections on the Russian shelf in the Barents Sea and the Sea of Okhotsk: Lisyanskii, Kashevarovskiy, Perseevskiy sections and Magadan-1.

The head of Rosneft noted that in 2014, as a result of the successful completion of the exploration drilling at Pobeda field in the Kara Sea, the company has posted initial recoverable reserves of 130 million tons of oil and 396 billion cubic meters of gas.

Moreover, production with the help of the Yastreb rig on the Sakhalin shelf in the Severnoe Chaivo field has commenced. In 2014, 300,000 tons of oil were produced. The drilling and launch into operation of the first well on the Berkut platform in the Sea of Okhotsk have been completed. Oil production amounted to 2,000 tons per day. Cumulative production totals 60,000 tons.

03 February 2015

Russia’s oil giant Rosneft signed an agreement on joint shelf development with Norway’s Statoil in June

Russian oil major Rosneft and Norway’s Statoil have launched exploratory drilling in the Norwegian sector of the Barents Sea, Rosneft said on Monday.

“The first exploration well Pingvin-1 will be drilled by the Transocean Spitsbergen rig. The water depth is 422 meters and the drilling target total vertical depth is 1,516 meters. The companies expect to analyze the drilling results until the end of 2014,” Rosneft said in a statement.

Rosneft joined a project to develop the Norwegian continental shelf in the Barents Sea in June 2013, following the results of a tender, in which it was granted a 20% stake in four fields.

A year earlier, Rosneft and Statoil signed an agreement on the joint extraction of hydrocarbons in promising areas in the Barents and Okhotsk Seas in 2016-2018.

Rosneft is also jointly extracting hydrocarbons with the Anglo-Dutch oil major Shell under the Sakhalin-II oil and gas project off Russia’s Pacific coast and with the US-based energy giant ExxonMobil for developing the continental shelf of the Kara and Black Seas.

18 August 2014

Investor profile

Statoil ASA

Stavanger, Norway

Company's website:

T: +47 51990000

Public company (NYSE: STO)

Contact: Mr Helge Lund, Chief Executive Officer

The largest company in Norway, as well as the largest oil company in northern Europe. The company is one of the largest suppliers of crude oil on the global market, as well as the largest supplier of natural gas on the European market.