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Timothy Smith

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Timothy Smith

Re: johnsyn post# 130

Sunday, 07/15/2012 2:24:47 PM

Sunday, July 15, 2012 2:24:47 PM

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Honestly I am most interested in what they are doing in North America. Statoil recently announced that it would increase its investments in North America. The company will spend $17 billion in order to ramp up its North American production from 150,000 barrels per day to 500,000 barrels per day by 2020.

As the company's reserves in Norway start shrinking, the company is taking active role to increase production elsewhere. The company has strong presence in Gulf of Mexico and oil rich northern parts of US such as North Dakota

"My well came in big, so big, Bick and there's more down there and there's bigger wells. I'm rich, Bick. I'm a rich 'un. I'm a rich boy." - Jett Rink

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