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Statoil to invest in new technology in 2013

Last year, Statoil implemented 61 new technologies on the Norwegian shelf which was a new record. The development of these technologies costs hundreds of millions of USD and this year, the Norwegian oil company is once again looking to spend much money on research and technology, the Norwegian business newspaper Dagens Næringsliv reports.

Photo: Ole Jørgen Bratland/Statoil

USD 565.6 million is what the Norwegian state-owned oil company Statoil expects to spend on research, development and testing of new technologies in 2013 and at the moment, the company is working on 429 projects, Statoil research and development head, Karl Johnny Hersvik, tells the Norwegian business newspaper Dagens Næringsliv.

Statoil has an ambition to increase its recovery on the Norwegian shelf to 60 percent which demands new technologies, Karl Johnny Hersvik tells Dagens Næringsliv and he says that it has cost billions but creates values.

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