Norwegian oil company Statoil ASA (STO) said Tuesday it has been awarded shares in eight exploration licenses on Norway's continental shelf by the Ministry of Petroleum and Energy.
Norwegian oil company Statoil ASA (STO) said Tuesday it has been awarded shares in eight exploration licenses on Norway 's continental shelf by the Ministry of Petroleum and Energy.

Statoil is operator on six of the licenses, it added.

"The licenses we have now been awarded will help maximize the utilization of our existing near-field infrastructure," the company said. "The licenses can provide additional volumes on fields already in production and thereby extend the lifetime of installations."

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