Statoil’s Tim Dodson shares his insights on the long-term development of Arctic resources.
The large but long-stalled $12 billion West Nile Delta subsea project in Egypt’s Mediterranean deep waters is to be fully revived.
Exploration work is also moving along at a steady pace, with appraisal drilling and seismic shoots ongoing.
Round One makes available 169 blocks with more than 18 Bboe in prospective resources and proven and probable reserves.
Oil price threatens to demote the importance of a region already challenged by high costs, environmental concerns and technological obstacles.