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Statoil To Ramp Up North American Production Fivefold

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August 30, 2012

Statoil plans to boost its North American production from less than 100,000 barrels oil equivalents per day (boepd) in 2011 to more than 500,000 boepd in 2020. An important part of the growth stems from our 2011 acquisition of holdings in the Bakken and Three Forks oil plays in North Dakota.

“The value of our Bakken crude is lowered by present limited pipeline capacity in the region. The ability to create sufficiently marketable products and ensure that we have enough transport capacity is increasingly important. Transporting the crude by rail ...


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