Statoil awarded interests in 29 exploration licences on the Norwegian continental shelf

Statoil awarded interests in 29 exploration licences on the Norwegian continental shelf

Stavanger, Norway, 17-Jan-2017 — /EuropaWire/ — In connection with the Award in Predefined Areas (APA) for 2016 Statoil has been awarded interests in 29 exploration licences on the Norwegian continental shelf (NCS), 16 of these as operator, and 13 as a partner.

“The NCS is the core of Statoil’s business, and we are pleased with the awards in the 2016 APA round, which will allow us and the industry to continue exploring for profitable, high-value prospects. Combined with the numbered rounds the annual licencing rounds are the authorities’ main instrument for helping maintain exploration activities on the Norwegian continental shelf. New discoveries are needed in order to offset the declining production on existing fields on the NCS,” says Jez Averty, Statoil’s senior vice president for exploration in Norway and the UK.

The award is on a level with APA 2015, when a record number of licences were awarded. This year’s offer includes one commitment well, PL894, in the Norwegian Sea. Statoil is partner with an interest of 40 percent, Wintershall is the operator with an interest of 40 percent and Petoro is partner with 20 percent. The licence includes a work commitment to drill an exploration well within three years of the award. A potential discovery will have a follow-up potential and may add important additional volumes to Aasta Hansteen. The award illustrates Statoil’s intensified search for new resources in the Norwegian Sea.

“Over the past two years we have replenished our portfolio with interesting prospects. This is reflected in the exploration plan we have published for 2017. There we focus on the Barents Sea after high quality awards in the 23rd round and APA 2015. The awards in the APA 2016 round bolsters our position in the Norwegian Sea,” Averty says.

“Our commitment to the Norwegian Sea is demonstrated by the oil and gas discovery in well 6608/10-17 Cape Vulture, announced earlier today. This licence was awarded in APA 2015, and the well completed within one year of award. This is in line with our ambition to quickly clarify the prospectivity acreage we are awarded,” Averty says.

In APA 2016 Statoil was awarded new production licences in all of the three provinces on the NCS:

Barents Sea

  • 50% share and operator for production license 901 (blocks 7122/5,6 and 7123/4)

Norwegian Sea

  • 64% share and operator for production license 128E (block 6608/10)
  • 30% share and partner in production license 255C (block 6406/5)
  • 20% share and partner in production license 847B(block 6707/4)
  • 40% share and operator for production license 890 (blocks 6507/7,8)
  • 40% share and partner in production license 894 (blocks 6604/5,6 and 6605/4,5,7)
  • 40% share and partner in production license 895 (blocks 6609/2,3,4,5,6)
  • 20% share and partner in production license 896 (blocks 6610/2,3 and 6611/1,2)
  • 50% share and operator for production license 897 (blocks 6606/2,3 and 6706/12)
  • 70% share and operator for production license 898 (blocks 6707/10,11,12)
  • 60% share and operator for production license 899 (blocks 6706/12 and 6707/10)

North Sea

  • 49,3 % share and operator for production license 053C (block 30/6)
  • 40% share and operator for production license 630BS (block 35/10)
  • 20% share and partner in production license 782SC (block 25/7)
  • 20% share and partner in production license 860 (blocks 2/6,9 og 3/4)
  • 40% share and operator for production license 864 (blocks 6/3, 7/1,2,4,5,6,8 og 16/10,11)
  • 45% share and partner in production license 865 (blocks 15/12 og 16/7,8,10,11)
  • 70% share and operator for production license 866 (blocks 15/5,8)
  • 30% share and partner in production license 867 (block 16/1)
  • 40% share and partner in production license 868 (block 16/1)
  • 80% share and operator for production license 870 (blocks 25/6,9 og 26/7)
  • 20% share and partner in production license 871 (blocks 25/1,2,4,5)
  • 40% share and partner in production license 873 (blocks 25/1,2 og 30/11)
  • 70% share and operator for production license 878 (blocks 30/2,3)
  • 70% share and operator for production license 879 (blocks 34/8,9,11,12)
  • 60% share and operator for production license 883 (blocks 35/5,8)
  • 30% share and partner for production license 884 (block 35/3)
  • 30% share and operator for production license 885 (blocks 35/3 og 36/1)
  • 80% share and operator for production license 903 (blocks 25/1 og 30/10)

For further information, please contact:
Media:
Morten Eek, +4741689515
Investor relations: Anca Jalba, +4741087988

SOURCE: Statoil ASA

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