Statoil awarded seven exploration licences offshore UK

10/26/2012

Statoil awarded seven exploration licences offshore UK

BY DOMINIC CHOPPING

Norwegian oil and gas major Statoil said late it has been awarded shares in seven exploration licences on the UKCS.

The company is operator for two of these, and expects this number to increase when the blocks pending environmental assessment are awarded.

The licences which were awarded by the United Kingdom authorities are part of the United Kingdom 27th Offshore Oil and Gas Licensing Round, and comprise a total of 19 blocks West of Shetland and in the North Sea.

In the United Kingdom North Sea, the most prolific award is for 3 blocks in the Catcher area on the Western Platform, where Statoil and Nexen on behalf of a group of five partners will be responsible for drilling at least three exploration wells in the coming years.

Dow Jones Newswires

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