Statoil awarded 6 licenses offshore Brazil

5/15/2013

Statoil awarded 6 licenses offshore Brazil

BY DOMINIC CHOPPING

STAVANGER -- Statoil said it was the highest bidder on 6 licenses in Brazil.

With the new licenses, Statoil has strengthened its position in the Espirito Santo basin. Out of the 6 licenses awarded in Espirito Santo, Statoil is the operator for four and partner in two of the licenses.

The licenses are located in the deepwater sector of the Espirito Santo basin, close to the licenses BM-ES-32 and BM-ES-22A which are operated by Petrobras and in which Statoil is already a partner.

The blocks have an exploration phase of 7 years, divided in to 2 periods of 5 years and 2 years, and the total well commitment for the 6 licenses is 10 wells.

Dow Jones Newswires

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