Statoil exploration chief Tim Dodson. Image courtesy Trond Isaksen/ Statoil.

Norway’s Statoil will drill five to six exploration wells in Canada as part of a 15 month campaign this year.

Exploration chief Tim Dodson told Reuters Thursday that the majority of the wells will be drilled around the Bay du Nord discovery located in offshore Newfoundland and Labrador.

The company has already completed the first well of the campaign but did not disclose when it expects to release those results.

In 2013 Statoil, along with  Alberta-based Husky Energy,  discovered estimated reserves of between 300 million to 600 million barrels of oil equivalent in the Bay du Nord play.

The company also found up to 200 million boe in the nearby Mizzen prospect.



Leave a Reply