Banner
Banner

Statoil farms down in Mozambique licence

altStatoil has announced that it has farmed down a 25 % working interest in its operated exploration licence offshore Mozambique to Japanese based INPEX Mozambique, Ltd., a wholly owned subsidiary of INPEX CORPORATION.

 

The licence, which consists of two blocks, under one licence agreement, is located in areas 2 and 5 offshore Mozambique in the Rovuma basin.

"The farm-down reflects the attractiveness of Statoil's acreage in Mozambique. Bringing INPEX onboard allows the companies to diversify geological risk while sharing the potential upside. The first out of two wells in the license will be drilled during 2Q by the drillship Discoverer Americas," says Nick Maden, senior vice president in Exploration international in Statoil.

The blocks are located in a frontier area with a water depth varying between 300 and 2,500 metres. The area covers 8,041 square kilometres.

"Our presence in Mozambique is in line with Statoil's exploration strategy, focusing on early access in a prolific region. Large gas discoveries have recently been made north of the acreage and the prospectivity for hydrocarbons in the Statoil operated blocks is promising," adds Maden.

After the farm-in completion, the block will continue to be operated by Statoil Oil & Gas Mozambique A.S. with a 40% participating interest, the other partners being INPEX Mozambique, Ltd. (25%), Tullow Mozambique Limited (25%), a subsidiary of Tullow Oil and Empresa Nacional de Hidrocarbonetos, E.P., the Mozambican state oil company (10%).

The commercial terms of the transaction are confidential and it is subject to Mozambican government approval.

(Press release)

 


Related Articles

Oil&Gas: Major assets remain on the Norwegian Shelf

The Norwegian Petroleum Directorate (NPD) believes that Norwegian oil reserves could grow by 1200 million standard cubic metres (Sm 3 ) over the next ten years...Read more...

Oil&Gas: More Statoil success in Brazil

Norwegian energy provider Statoil has received formal approval to enter the São Bernardo discovery in Espírito Santo. The discovery further strengthens Statoil's belief in the oil potential in the basin...Read more...

Oil&Gas: Statoil enters Myanmar offshore

Norwegian energy provider Statoil, together with partner ConocoPhillips, have been awarded a deep-water exploration block in the Myanmar waters of Bay of Bengal...Read more...

Oil&Gas: Strong interest in further exploration

Nrwegian continental shelfThe Norwegian Government has decided to offer ownership interests to 48 companies in 65 new production licences for 2014 in connection with the 2013 Awards in Predefined Areas (APA 2013). ..Read more...

Oil&Gas: Record activity in 2013

A record number of fields are in operation on the Norwegian shelf. Discoveries in 2013 offset roughly half of what was produced in the same year, the Norwegian Petroleum Directorate reports...Read more...

Oil&Gas: Accepts Oseberg C fine

Norway's energy provider Statoil has decided to accept the NOK 10 million fine imposed on the company for pollution...Read more...

Oil&Gas: Production start at Visund North

Norwgian energy producer Statoil has started production from the Visund North oil and gas field in the North Sea, off the west coast of Norway...Read more...

Oil&Gas: New life for an old field

Norway's oldest oil field has just had another 40 years added to its productive life. On the Ekofisk Field, a new platform, Ekofisk South was officially opened by Oil Minister Tord Lien on Tuesday...Read more...

Oil&Gas: Considerable interesst in mature areas

altAs of the application deadline for awards in predefined areas (APA) 2013 on the Norwegian Continental Shelf, the authorities have received applications from 50 companies...Read more...

Oil&Gas: Nomnations for the 23rd licencing round

altThe Minister of Petroleum and Energy Ola Borten Moe has invited oil companies to nominate blocks they want to have included in the 23rd licencing round on the Norwegian continental shelf. ..Read more...

Oil&Gas: New Statoil find off Canada

altNorwegian energy provider Statoil reports that it has made a third discovery of crude oil in the Flemish Pass Basin, offshore Newfoundland, Canada. ..Read more...

Oil&Gas: Export solution for the Utsira High

altStatoil and its partners have made the investment decision for a joint oil export solution for the Edvard Grieg and Ivar Aasen fields. ..Read more...

Oil&Gas: High exploration activity and many new discoveries

  altThere has been high exploration activity and eight new discoveries on the Norwegian Shelf during the first six months of the year, the Norwegian Petroleum Directorate (NPD) reports. ..Read more...

Oil&Gas: Higher price for crude due to Egyptian unreast

For the first time since September 2012, the price of crude oil on the world market is now more than USD 100 per barrel. The reason is the unsettled situation in Egypt, experts say...Read more...

Oil&Gas: 24 new production licenses awarded

altThe Norwegian Government has decided to award 24 production licenses in the 22nd licensing round – 20 in the Barents Sea and four in the Norwegian Sea. Twenty-nine companies will be offered participating interests, while 14 companies will be offered operatorships. ..Read more...

62 Degrees North

http://www.norwaypost.no/components/com_gk3_photoslide/thumbs_big/612298Web_0074_hm_567x378_72.jpg

Sea Safari

Let the adrenalin flow during our exiting sea safari in an open rapid RIB boat. Discover Ålesund from the sea. Visit seal colonies and experience puffins and eagles at the See details

http://www.norwaypost.no/components/com_gk3_photoslide/thumbs_big/979953Web_Brosundet_lighthouse_room_49.jpg

Brosundet Lighthouse

Hotel Brosundet is small and intimate with only 47 rooms. The jewel in our treasury-box is Room 47. Only a few minutes walk from the hotel lies the old and See details

http://www.norwaypost.no/components/com_gk3_photoslide/thumbs_big/489969Web_DSC_4757.jpg

Storfjord Hotel

Storfjord Hotel is a secluded luxury hotel situated in Øvre Glomset, 30 km east of Ålesund, on a hillside overlooking the Storfjord and the Sunnmøre Alps. Ever since it opened See details

http://www.norwaypost.no/components/com_gk3_photoslide/thumbs_big/971299Web_Kajakk_Brosundet.jpg

Kayaking in Brosundet

A surprisingly large number of Norway’s most stunning natural attractions are concentrated around 62 degrees north latitude. Our company, 62˚Nord is a local company, with the intimate local knowledge necessary See details

http://www.norwaypost.no/components/com_gk3_photoslide/thumbs_big/739979Web_640__Somerruter_Foto_RasmusKongs__re.jpg

Summer Trip

Join a tour with a comfortable sightseeing boat to the wild and majestic Hjørundfjord, with stunning views of mountains and fjords at their most spectacular! The meeting between the torn See details

Local News in Brief

Social Networking

WHAT's YOUR OPINION

Should Norway apply for the 2022 Winter Olympics ?

Norges Rederiforbund
2012 Norsk Polarinstitutt

.Partners

NORGE.NO/DIFI
Norsk Romsenter
Folkeuniversitetet
Munch 150 years
Bedin Front Right Top