▁to ▁reduce ▁development ▁costs . ▁ ▁Stato il ▁has ▁been ▁expl oring ▁the ▁Bar ents ▁Sea ▁for ▁oil ▁and ▁gas ▁since ▁ 1 9 8 0 . ▁As ▁of ▁June ▁ 2 0 1 4 , ▁Stato il ▁participated ▁in ▁construction ▁of ▁ 9 8 ▁expl oration ▁well s ▁in ▁the ▁region . ▁ ▁In ▁ 2 0 1 6 , ▁Equ in or ▁( then ▁Stato il ) ▁was ▁ranked ▁as ▁the ▁fifth ▁best ▁of ▁ 9 2 ▁oil , ▁gas , ▁and ▁min ing ▁companies ▁on ▁ind igen ous ▁rights ▁in ▁the ▁Ar ctic . ▁ ▁Corpor ate ▁structure ▁Board ▁of ▁Direct ors ▁Com pr ised ▁as ▁follows ▁as ▁of ▁February ▁ 2 0 1 7 : ▁ Ø yst ein ▁L ø s eth , ▁former ▁CE O ▁of ▁V atten fall ▁Roy ▁Franklin , ▁Chair man ▁of ▁Cu adr illa ▁Resources ▁and ▁trained ▁ge ologist ▁B j ør n ▁T ore ▁God al , ▁former ▁Norwegian ▁Minister ▁of ▁Foreign ▁Affairs , ▁Trade ▁and ▁Sh ipping , ▁and ▁Def ense ▁L ill - He idi ▁Bak ker ud , ▁employee - elect ed ▁representative , ▁former ▁process ▁engineer ▁at ▁Stato il ' s ▁G ull f aks ▁oil ▁field ▁Maria ▁O ude man , ▁President ▁of ▁U tre cht ▁University ▁W en che ▁A ger up , ▁current ▁C CO ▁of ▁T elen or ▁Reb ek ka ▁G lass er ▁Her lo f sen , ▁current ▁C FO ▁of ▁Tor val d ▁K la ven ess ▁Group ▁J ero en