Statoil Awarded Exploration License Onshore in Argentina
November 30 2017 - 4:08AM
Dow Jones News
By Dominic Chopping
Norway's Statoil ASA (STO) said Thursday it has been awarded an
exploration license in Argentina, taking a 90% interest as
operator.
The award relates to the Bajo del Toro Este exploration license
in the Neuquen basin and Statoil has committed to one exploration
well within the four-year exploration period, which starts in
2018.
"With the Bajo del Toro Este license award we are building our
light oil position in a world-class unconventional resource play,
the Vaca Muerta Formation," said Tim Dodson, Statoil's executive
vice president for exploration.
Gas y Petroleo del Neuquen retains a 10% interest in the
license.
Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter:
@domchopping @WSJNordics
(END) Dow Jones Newswires
November 30, 2017 03:53 ET (08:53 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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