Statoil Pulling Out of Alaska

Statoil is optimizing its exploration portfolio for long-term value and has decided to exit Alaska following recent exploration results in neighboring leases.
The decision means the company will exit 16 Statoil-operated leases, and its stake in 50 leases operated by ConocoPhillips, all in the Chukchi Sea. The leases were awarded in the 2008 lease sale in Alaska and expire in 2020. The leases are seen by the company as no longercompetitive within the company’s global portfolio. The office in Anchorage will be closed as well.
“Since 2008 we have worked to progress our options in Alaska. Solid work has been carried out, but given the current outlook we could not support continued efforts to mature these opportunities,” said Tim Dodson, executive vice president for exploration in Statoil.
The studies, research and activities which have taken place in Alaska, have given the company significant skills and expertise that can be leveraged in other opportunities in northern environments in the future, he added.
Related News
Related News

- Kinder Morgan Proposes 290-Mile Gas Pipeline Expansion Spanning Three States
- Enbridge Plans 86-Mile Pipeline Expansion, Bringing 850 Workers to Northern B.C.
- Intensity, Rainbow Energy to Build 344-Mile Gas Pipeline Across North Dakota
- Tallgrass to Build New Permian-to-Rockies Pipeline, Targets 2028 Startup with 2.4 Bcf Capacity
- U.S. Moves to Block Enterprise Products’ Exports to China Over Security Risk
- U.S. Pipeline Expansion to Add 99 Bcf/d, Mostly for LNG Export, Report Finds
- A Systematic Approach To Ensuring Pipeline Integrity
- 275-Mile Texas-to-Oklahoma Gas Pipeline Enters Open Season
- TC Energy’s North Baja Pipeline Expansion Brings Mexico Closer to LNG Exports
- US Poised to Become Net Exporter of Crude Oil in 2023
Comments