Norway’s Statoil plans to bolster its posi-tion in up to five offshore regions to hoistoil and gas output to more than 2.5 millionbarrels per day of oil equivalent by 2020,from around 1.9 million boe/d last year, aspart of its strategy to grow outside its tradi-tional domestic stomping grounds.Speaking at the company’s annual capitalmarkets day in New York on Monday, Sta-toil Chief Executive Helge Lund said thefirm will boost capital spending to $16 bil-lion both this year and next from around$13 billion in 2010. “Towards 2020 ourambition is to establish material positionsin three to five offshore business clustersoutside the NCS [Norwegian ContinentalShelf] and step up our shale gas and liquidsproduction,” Lund told analysts at themeeting, which marked Statoil’s 10th an-niversary as a listed company.
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