Statoil to Explore Offshore South Africa
Norwegian oil main Statoil says it has accomplished a take care of ExxonMobil to probe for oil and fuel offshore South Africa.
Under the farm-in transaction, Statoil will purchase 35% curiosity within the ER 12/3/154 Tugela South Exploration Right, which covers an space of roughly 9,054 sq. kilometers off South Africa’s japanese coast in water depths as much as 1,800 meters.
“This opportunity is in line with Statoil’s exploration strategy of access at scale. It represents access into a frontier basin where we believe we see indications of an active petroleum system and which has impact potential,” says Nick Maden, senior vp for Statoil’s exploration actions within the Western Hemisphere.
“The position strengthens and increases the optionality in Statoil’s long-term international portfolio. We look forward to working with ExxonMobil, Impact Africa and the South African government to explore for oil and gas in this new area for Statoil,” says Maden.
The farm-in represents a primary for Statoil in South Africa. The firm says that it enters in an early exploration section with a step-wise exploration program.
Work commitments between 2015 and 2017 embrace the acquisition of 1,000 sq. kilometers of 3D seismic knowledge and geology and geophysic research, however there aren’t any dedication wells throughout this exploration interval.
Drilling of South Africa’s first deepwater properly was launched in July 2014 by TOTAL and its companion, Canadian Natural Resources International within the Outeniqua Basin, situated south of Mossel Bay within the Western Cape on the South Africa’s southern coast.
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