Statoil has been awarded interest in the COL4 licence offshore Colombia in the Caribbean Sea in the 2014 Colombia Licensing Round.

Statoil will hold 33,33% in the licence. Repsol will be the operator of the licence and will hold 33,34%. ExxonMobil Exploration Colombia will hold 33,33%.

“Deepwater offshore Colombia is virtually untested. The award of new acreage in this frontier area is in line with our exploration strategy of early access at scale”, says Nick Maden, senior vice president for Statoil's exploration activities in the Western Hemisphere.

The licence award represents a country entry for Statoil into Colombia. The entry is an early exploration phase and the initial working commitments include 2D and 3D seismic acquisition which will allow Statoil to further assess the potential of the basin.

There are no well commitments during the first exploration phase.

About Statoil

Statoil (OSE:STL, NYSE:STO) is an international energy company with operations in 34 countries. Building on 40 years of experience from oil and gas production on the Norwegian continental shelf, we are committed to accommodating the world's energy needs in a responsible manner, applying technology and creating innovative business solutions. We are headquartered in Stavanger, Norway with approx. 23,000 employees worldwide, and are listed on the New York and Oslo stock exchanges.