In February of 2008 Statoil expanded into Alaska by being the high bidder on 16 leases, 14 of which are joint bids with ENI Petroleum, in the first Chukchi Sea Lease Sale since 1991. Statoil will be the operator of all leases.

The Chukchi Sea is located offshore Alaska northwest of Prudhoe Bay, an area comprised of 5354 blocks, approximately 5609 acres, in water depths from 20 to 80 meters. Statoil’s awarded leases are located 37 miles north of the Burger gas discovery.

According to the most recent MMS estimate, the Chukchi Sea is believed to hold about 15 billion barrels of recoverable oil and about 76 trillion cubic feet of recoverable natural gas.

The presence of Statoil in Alaska emphasises the company’s strategic ambition, and our confidence and experience working in Arctic waters.  The Chukchi Sea area is considered a frontier area with no production or infrastructure as of today.

The Arctic offers exciting challenges when it comes to oil and gas production. Building on our arctic experience from other projects around the world, Statoil is constantly researching and developing new technology to meet the challenges ahead. Drilling and production systems, long distance transportation of unprocessed oil and gas, material science, oil spill response and safety and working environment in cold climates are just a few examples of the intense research behind future programs.

Because Alaska is located in an environmentally sensitive area, Statoil is also participating in environmental baseline monitoring with Shell and ConocoPhillips.  Here we study seabed and water sampling, analysis over old drilling sites, fixed seabed acoustic recorders to monitor marine mammal activity and ecological studies of the Chukchi fish population.

Statoil is looking forward to further exploring new opportunities in Alaska in the years to come.

 Overview of Statoil’s arctic experience:
  • Statoil already holds important arctic positions offshore Norway, Russia and Canada.
  • Statoil operates the Snøhvit field, the first offshore development in the Barents Sea without surface installations.
  • Statoil has a 24% working interest in the Shtokman gas and condensate field, located in the arctic waters of the Russian Barents Sea.
  • Statoil is a partner in the Mizzen prospect, located in the arctic waters of offshore Canada.