Arctic — Drilling the Last Frontier

  • Optimistic Arctic resource estimates
  • Intensified exploration drilling; only one field ‘under development’ and four ‘planned’
  • Long lead time due to high costs and uncertain resource estimates
  • Large-scale investment already funnelled into Arctic exploration, Statoil is considering commissioning “CAT-I” drillship
  • However, drilling programs have been put on hold due to costs and environmental risks

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