Statoil deems Gulf of Mexico work failure

Statoil’s exploration work in the Gulf of Mexico has been “unsuccessful,” the company’s chief of exploration, Tim Dodson told Norway’s Dagens Naeringsliv on Friday.

The Norwegian major holds stakes in nine leases, including a 50% interest in the Julia field.

Dodson minced no words about to the exploration programme, which is now being reconsidered. “While the fields we have [in the region] provide business, the Statoil-operated exploration campaign can at the moment be characterised as a failure. I can express it so strongly,” he told the daily.

According to Dagens Naeringsliv, further discussion on the matter is expected to kick off next week. “We have been uncertain over the past 18 months based on the results. Of course, when you have had unsuccessful exploration wells in the area over a long period, it is natural to pause to gain a better understanding of the status,” Dodson was quoted as saying, adding that Statoil could not continue on the same course.

Image courtesy of Statoil