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  • Statoil increases share in the Wisting discovery
    édité le 06/09/2016 - Plus de news de "Equinor" - Voir la fiche entreprise de "Equinor"


Statoil increases share in the Wisting discovery
Statoil and Tullow Norge AS have agreed on a transaction whereby Statoil will increase its equity in four licences on the Norwegian continental shelf (NCS). The transaction includes the Wisting discovery in the Barents Sea.

“This transaction reflects our strong belief in the exploration potential on the Norwegian continental shelf and our commitment to create value in the Barents Sea,” says Jez Averty, Statoil’s senior vice president for exploration in Norway and UK.

Statoil has built a substantial exploration portfolio in the Barents Sea through licensing rounds and transactions. Through this transaction Statoil becomes the biggest equity holder in the Wisting discovery, so far the only big discovery in the Hoop area of the Barents Sea.

Statoil has a strong position in the Hoop area and sees further exploration potential which can bring synergies to the area.

“We wish to contribute with our experience, competence and technology to ensure an efficient and profitable development of the Wisting-discovery. Statoil has developed new technologies such as the Cap-X subsea concept and promoted industry cooperation through the Barents Sea Exploration Collaboration (BaSEC) in order to deliver safe and efficient operations,” says Averty.

New, substantial discoveries are required to maintain the production on the NCS, and resource additions from Northern Norway are central in reaching this target. The NPD estimates the Wisting discovery to contain 241 million boe of recoverable resources.

The agreement also gives access to interesting exploration prospects in the Norwegian Sea and the Barents Sea that will be matured for possible drilling in 2018.

The transaction is contingent upon approval of the authorities.

About Statoil

Statoil ASA (OSE: STL, NYSE: STO) is an international energy company with operations in 36 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 approximately 23,000 employees worldwide, and are listed on the Oslo and New York stock exchanges.

About Tullow

Tullow is a leading independent oil & gas, exploration and production group, quoted on the London, Irish and Ghanaian stock exchanges (symbol: TLW). The Group has interests in over 120 exploration and production licences across 22 countries which are managed as three Business Delivery Teams: West Africa, East Africa and New Ventures.


Origine : Communiqué Equinor

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