Yael Pipano

Oil Drilling Stocks: 14 Ways to Strike It Rich

STO especially! StatoilHydro was chosen by Gazprom to be a partner in the development of the massive Shtokman gas project, joining France's Total. Gazprom is one of 4 operators controling 20% of the arctic which has a potential prize of 109 Bboe (98 fields were discovered to date). The other 3 largest arctic operators are BP with 18%, Statoil with 16% and Exxon with 14%. STO has has 7,000 kilometers of pipeline from the Norwegian continental shelf to Europe, and is highly involved in deepwater exploration in the Barent's sea which contains an estimated +300 MMBbl of recoverable oil. Nearly $25 billion is projected to be the annual deepwater capital expenditure by 2012 (a 30% growth rate for the next 4 years). Deepwater oil production will account for almost 20% of total offshore production (a 5% increase) by 2011.