Statoil has outlined its next six big projects in the North Sea.
The Norwegian operator now has 30 projects underway of a certain size with total investment in these said to be around NOK280billion.
According to reports, these findings emerged during a presentation of the project portfolio Statoil completed in Norway this week.
Executive vice president for Technology, Projects and Drilling, Margaret Ovum, said the company believes in a “high level of activity” on the Norwegian shelf.
She said in 2013 the group had a breakeven price of $70 per barrel on average for its project portfolio.
However, in 2016, the price per barrel is now at around $40.
Ovum said in “several of the projects” that price is even lower than that.
There are six projects the company is now focusing on which include Johan Castberg, the Snorre expansion, Njord Future, Troll Future, Askeladd and Johan Sverdrup.
Statoil said Castberg in particular will be an “extremely important” and “major project” for the North Sea.
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