Ole Martinsen, vice president for exploration research, said: We believe in further breakthroughs on the Norwegian Continental Shelf.

According to Mr Martinsen, the company’s focus on new technology development has already generated several interesting and promising methods.

The discovery of Ormen Lange, where old data was re-examined with new ideas in a new area, is an example of such a breakthrough. Finds at the Statfjord, Oseberg and Troll fields illustrate how known exploration techniques can produce results when linked in with new data in new areas.

StatoilHydro’s development of its own version of Google Earth, where all data can be viewed in context, is an example of new exploration techniques being employed.