Statoil Using Marcellus To Go Global

Last week, Statoil – Norway’s largest oil and gas company – unveiled plans to expand its shale operations globally, saying its current experience in the Marcellus Shale play is giving the company the know-how to take their show on the road

“Our goal is to take what we are now learning in Marcellus and transport these skills to other parts of the world,” said John Knight, head of Statoil’s Global Unconventional Gas Department. “Our current joint venture with Chesapeake is giving us an opportunity to train our people in the US shale gas industry.”

Statoil has been a joint-venture partner in Marcellus with Chesapeake Energy since 2008, and currently has 118 wells in production in the Pennsylvania shale play. This year, Statoil acquired even further interest in the play adding 59,000 acres to its current 600,000 acres. In addition to its operational wells, Statoil also has 105 wells awaiting completion and infrastructure.

Helge Lund, Statoil’s CEO, said his company chose a joint venture with a company such as Chesapeake rather than an outright acquisition to gain technical know-how. Now, along with Chesapeake, Statoil is taking that know-how and looking for potential unconventional reserves in under-serviced areas.

“We are now completing a two-year analysis of shale cores from around the globe,” said Knight, including shale plays in China, South Africa and the Gulf of Mexico.

SOURCES:
E&P Magazine: “Statoil Outlines Plans for US Marcellus Operations”

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Posted by admin on September 3rd, 2010. Filed under Marcellus Shale, Shale Basins, Shale Gas. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry