Statoil Says Results Confirm Changes Over Past 3 Years

The video discusses the company's financial performance, highlighting a strong cash flow and reduced gearing. It outlines the investment and capital expenditure plans, maintaining a CapEx outlook of $11 billion while reducing exploration spending due to efficiency gains. The Norwegian operations are emphasized, with recent discoveries on the continental shelf and barren sea. The company has made significant discoveries, including the U-Haul and cost spike, and continues to explore new opportunities.

Can you explain the reasons behind the reduction in exploration spending guidance?

What discoveries have been made in the Norwegian continental shelf recently?