OSLO Jan 6 Norway's Statoil is
considering whether to end its costly search for oil and gas in
the U.S. Gulf of Mexico, the company's exploration chief told
financial daily Dagens Naeringsliv (DN) on Friday.
Statoil has been part of several discoveries in the region
as a junior licence partner, but the company has failed to
strike oil in the drilling campaigns it has operated, despite
spending billions of dollars.
"Even if the fields we have are paying off, the
Statoil-operated exploration campaign could so far be
characterised as a failure," Tim Dodson told DN.
"We'll consider whether to and how to proceed," he said.
Statoil's latest well in the region was drilled some 18
months ago and the company will not spud any in 2017.
A Statoil spokesman told Reuters the company is evaluating
its work in the region and that no decision has been made on
whether or not to continue drilling there as an operator.
(Reporting by Terje Solsvik; editing by Jason Neely)