Statoil Gets Stake in Offshore Columbia Licence

Date : 07/24/2014 @ 2:24AM
Source : Dow Jones News
Stock : Exxon Mobil Corp. (XOM)
Quote : 79.92  0.03 (0.04%) @ 7:57PM

Statoil Gets Stake in Offshore Columbia Licence

Statoil Asa (NYSE:STO)
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   By Dominic Chopping 
 

Norwegian oil major Statoil ASA (STO) said late Wednesday it has been awarded a 33% interest in the COL4 licence offshore Colombia in the Caribbean Sea in the 2014 Colombia Licensing Round.

Repsol will be the operator of the licence and will hold 33.34%. ExxonMobil Exploration Colombia will hold 33.33%.

The award is subject to the final approval of the National Hydrocarbons Agency of Colombia (ANH).

Initial working commitments include 2D and 3D seismic acquisition which will allow Statoil to further assess the potential of the basin.

There are no well commitments during the first exploration phase.

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

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


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