The license concerns the Phase 1 development of the Shetland Group/Lista Formation in the Norwegian North Sea, with an investment of $114.7m.
Statoil estimates the first phase to add 18 million barrels of oil equivalent, which will help increase the resilience of the area for continued operation.
The plan involves reuse of existing 15 wells from the Gullfaks platforms.
Norwegian continental shelf (NCS) field development senior vice-president Ivar Aasheim said: "By utilising the existing infrastructure we manage to recover new resources at a lower cost, thus sustaining profitable production and long-term activities on the Norwegian continental shelf (NCS)."
Statoil Operations West, Development and Production Norway senior vice-president Kjetil Hove said: "The current recovery rate on the main Gullfaks field is 59 percent, and with a productive life towards 2036 our aim is to further increase this rate."
Based on pressure maintenance, Statoil expects the next phase to further improve the recovery rate.
The submitted plan for Shetland/Lista, which started operations under a test production license since 2013, outlines the more long-term resources development.
Statoil operates the Gullfaks field with 51% stake while Norway’s Petoro and Austria’s OMV own 30% and 19% interests respectively.
