BP Settlement Claims

Gulf Coast Disaster News

UPDATE: Statoil: US Oil Spill To Have Impact On All Companies

May 5, 2010, 9:35 am

By James Herron

Of DOW JONES NEWSWIRES 

LONDON (Dow Jones)--The oil spill from a BP PLC (BP) well in the Gulf of Mexico will have an impact on all companies operating in the region, including the likelihood of tighter regulations and slower opening of new exploration areas, Statoil ASA's (STO) Chief Financial Officer, Eldar Saetre, said Wednesday.

Statoil, which has significant operations in the Gulf of Mexico, is continuing to drill two exploration wells there and is satisfied they are completely safe, he said. Statoil has offered advice and services to the cleanup effort, he said.

Statoil's equity oil and gas production hit an all-time high of 2.102 million barrels of oil equivalent a day in the first quarter of 2010, due in large part to the ramp up of the Tahiti and Thunder Hawk fields in the Gulf of Mexico, said Saetre. "We don't expect any impact on production," from the current crisis in the Gulf, he said.

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