Drilling will begin in December 2012 where the company plans to complete four wells in Nunatak in the Skrugard area in six months.
Statoil Exploration executive vice president Tim Dodson said the company states that Norwegian Barents Sea is an area with a year-round ice-free zone.
In 2013, the company intends to drill two-three wells in the Hoop frontier exploration area and will also carry out exploration near the existing Snøhvit and Goliat discoveries in the Hammerfest basin.
"We also see the possibility of utilising knowledge gained here for Arctic prospects elsewhere later on – just like we’ve already done with Snøhvit," said Dodson.
"We’ve secured a five-year contract for Seadrill’s West Hercules drilling rig. The rig is currently being prepared for Arctic conditions, and can be used to drill consecutively in the region for years to come."
Statoil Technology, Projects and Drilling executive vice president Margareth Øvrum said the company is focused towards development of technology for exploration and production in ice.
"A new dedicated unit has been established to solve these challenges," said Øvrum.
The company also tripled its research budget from NOK80m ($13.74m) in 2012 to NOK250m ($42.92m) in 2013 for exploration programs in the Arctic Sea.
It will also embark on research cruise to north east Greenland in September 2012 and development of an Arctic drill unit concept which can undertake integrated operations in drifting ice and operate in wide range of water depths.
Statoil will work towards technology aimed at developing 3D seismic in ice.
Seventy-two blocks in Barents Sea will be put up on offer in the 22nd licence round on the Norwegian Continental Shelf, licences will be awarded in 2013, following submission of applications in December 2012.
