Statoil plans 2 exploration drills in Flemish Pass Basin

EU Norway Statoil Arctic Drilling 20140807
The West Hercules drilling rig is pictured in the Skaanevik fjord in western Norway. Norway’s mammoth sovereign wealth fund, which gets its money from Norwegian oil profits and taxes, takes a much more activist approach to its investing when it comes to ethical issues.

​Statoil has confirmed it is planning two exploration drilling programs in the Flemish Pass Basin, in Newfoundland’s offshore, later this year.