Statoil Has High Expectations for Korpfjell Prospect

The video discusses the company's commitment to exploration, highlighting their drilling plans and efficiency improvements in the oil industry. It provides updates on projects in the Barents Sea and explores the challenges and future vision of deep water exploration. The focus is on maintaining profitability and efficiency despite fluctuating oil prices.

What is the company's strategy regarding exploration in recent years?

• They have stopped all exploration activities.

• They have focused solely on onshore projects.

• They have maintained a counter-cyclical approach.

• They have reduced exploration activities.

How has the oil industry improved its efficiency in recent years?

• By increasing the number of wells drilled.

• By reducing the number of employees.

• Through cost reductions and efficiency gains in drilling.

• By focusing only on deep water exploration.

What was a significant factor that pushed the oil industry towards real change?

• Technological advancements.

• Increasing oil prices.

• Diminishing margins.

• Government regulations.

What is a key consideration in deep water exploration according to the speaker?

• The availability of drilling equipment.

• The proximity to the shore.

• The quality of the subsurface assets.

• The depth of the water.

What is the potential range of barrels expected from the COP field in the Barents Sea?

• Between 10 million and 50 million barrels.

• Between 1 billion and 2 billion barrels.

• Between 500 million and a billion barrels.

• Between 100 million and 200 million barrels.