Statoil is struggling to find partners

Statoil normally publishes an exploration program each year outlining expected exploration drillings for the following year. But the company did not do so in 2014, and this was not only the result of cost reductions.

BY DANIEL LOGAN

Published: 10.03.15 at 15:30

Norwegian oil giant Statoil did something unusual last year. The company opted not to publish an exploration program for 2015.

The decision was not caused exclusively by budget cuts and cost reductions, but rather the fact that Statoil does not yet exactly know where and when to perform exploration drillings, reports Norwegian media Teknisk Ukeblad.