Statoil to Drill More Canadian Wells

Norwegian energy firm Statoil (STO) will drill five to six exploration wells in Canada during its current 15 month campaign, with most of the work done around the Bay du Nord discovery, exploration chief Tim Dodson said on Thursday.

Statoil has already finished one well but does not expect to communicate its result for the time being and the rig has already moved on to the next prospect, Dodson told Reuters on the sidelines of a conference.

Statoil has already found up to 600 million barrels of oil equivalents in the Bay du Nord discovery offshore Newfoundland and Labrador and also found up to 200 million barrels of oil equivalents in the Mizzen prospect. (Reporting by Balazs Koranyi