Statoil Gets Exploration Licence Offshore Mozambique
October 30 2015 - 8:04AM
Dow Jones News
By Dominic Chopping
Norway's Statoil ASA (STO) said Friday that with partners, it
has submitted a winning bid on the A5-A block offshore
Mozambique.
The block covers an area of 5,145 square kilometres in water
depths ranging from 200 to 1,800 meters.
Eni is the operator of the joint venture with 34% participating
interest. Partners are Statoil and Sasol with 25.5% each and ENH
with 15%.
The minimum work program includes seismic and three commitment
wells.
"The Angoche area is a very promising frontier basin with
significant oil potential and builds on Statoil's exploration
strategy of access at scale," said Nick Maden, senior vice
president for Statoil's exploration activities in the Western
Hemisphere.
-Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter:
@WSJNordics
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
October 30, 2015 07:49 ET (11:49 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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