Large-scale Arctic oil and gas drilling decades away - Statoil

Newswire

* Arctic estimated to have 90 billion barrels of reserves * Statoil does not expect major production before 2030 * High development costs, harsh weather are big obstacles * Some wells cost $500 million to drill, firm says By Joshua Franklin LONDON, Nov 29 (Reuters) - Norway's Statoil said it would be decades until drilling begins for much of the Arctic's vast untapped oil and gas reserves due to the challenges of ...

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