Norwegian exploration drilling record

In spite of a global oil price decline, the exploration drilling rate is higher than ever on the Norwegian continental shelf, writes the Barents Observer.

In the first three months of 2009, 16 wells have been opened for exploration drilling. If this rate continues, 2009 will turn out to be a record breaking year when it comes to exploration drilling. The previous record was set in 2008, when 52 wells were opened for exploration. It is estimated that there will be performed up to 60 exploration drillings in 2009.

It is Norwegian oil company StatoilHydro which have performed 12 of the 16 exploration drillings. 13 out of the 16 wells are located in the North Sea. The Norwegian Petroleum Directorate estimated earlier this year that there will be exploration drilling of 35 wells in the North Sea, 15 wells in the Norwegian Sea and only two wells in the Barents Sea.

Source: Barents Observer.

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