Statoil's Zafarani Reservoir Offshore Tanzania Successfully Tested

Date : 03/03/2014 @ 4:16AM
Source : Dow Jones News
Stock : Exxon Mobil Corp. (XOM)
Quote : 80.12  -0.74 (-0.92%) @ 7:59PM

Statoil's Zafarani Reservoir Offshore Tanzania Successfully Tested

Statoil Asa (NYSE:STO)
Historical Stock Chart

5 Years : From Jul 2012 to Jul 2017

Click Here for more Statoil Asa Charts.
   By Dominic Chopping 
 

Norwegian oil and gas major Statoil ASA (STO) said Monday that with co-venturer ExxonMobil () they have successfully tested the Tanzania Block 2 offshore discoveries.

 
   MAIN FACTS: 

-The Zafarani-2 operation tested two separate intervals and flowed at a maximum of 66 million standard cubic feet of gas per day, constrained by equipment, and confirmed good reservoir quality and connectivity.

-"The ongoing appraisal programme is crucial to firm up the design and development basis for bringing gas to shore and a first phase onshore LNG project in Tanzania," says Oystein Michelsen, Statoil's Tanzania country manager.

-"We are now working constructively with our co-venturer ExxonMobil, Blocks 1, 3 & 4 and the Tanzanian authorities to progress the plans for a joint LNG plant development."

-The production well rate potentials are estimated to be higher than the equipment constrained rates obtained during the test.

-The Zafarani-2 operation will be followed by the appraisal well Zafarani-3.

-Statoil operates the licence on Block 2 on behalf of Tanzania Petroleum Development Corporation (TPDC) and has a 65% working interest, with ExxonMobil Exploration and Production Tanzania Limited holding the remaining 35%.

-At 0844 GMT shares traded 2.8% higher at NOK162.80.

-Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter: @WSJNordics

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


Latest XOM Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....


No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts


Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.