Statoil CEO sees 2015 exploration level in line with 2014

Mon Nov 17, 2014 7:21am EST
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OSLO (Reuters) - Norwegian oil firm Statoil (STL.OL: Quote) expects its 2015 exploration campaign to be similar to what the company has done in 2014, Chief Executive Eldar Saetre told Reuters on Monday.

"We are now working on the drilling program for next year and I think that will be in the same range as we have seen for this year," Saetre said.

In October, Statoil reiterated plans to complete around 50 exploration wells in 2014, with overall investments in exploration of about $3.5 billion.

(Reporting by Joachim Dagenborg and Nerijus Adomaitis, writing by Terje Solsvik)

A Statoil sign is pictured at gas station near Saulkrasti October 29, 2014.  REUTERS/Ints Kalnins