Statoil Acquires Exploration Licenses in South Africa
September 07 2017 - 7:12AM
Dow Jones News
LONDON-- Norway's Statoil ASA (STL.OS) Thursday said without
giving financial details that it has a acquired a 35% interest in
oil exploration right 12/3/252 Transkei-Algoa, offshore South
Africa from ExxonMobil Exploration and Production South Africa Ltd,
part of Exxon Mobil Corp (XOM).
Statoil also said it has completed the acquisition 90% interest
and operatorship in the Exploration Right 12/3/257 East Algoa from
OK Energy Ltd, also without giving financial details.
"These transactions strengthen Statoil's position in South
Africa and our long-term exploration portfolio," said Nick Maden,
senior vice president for exploration in the southern
hemisphere.
-Write to Rory Gallivan at rory.gallivan@wsj.com; Twitter:
@RoryGallivan
(END) Dow Jones Newswires
September 07, 2017 06:57 ET (10:57 GMT)
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