Statoil Strengthens Position in Norwegian Sea

Statoil has taken over parts of Shell's interests in Norwegian Sea exploration licenses.

Operator Statoil has signed agreements with Shell regarding the takeover of Shell's interest in production license 281 Midnattssol in the Norwegian Sea from January 1, 2007.

At the same time, operator Statoil takes over 2.5% of Shell's 10% interest in production license 328 Obelix in the North Sea's Voring Basin. Statoil will now have a 42.5% interest in the Obelix license.

"This strengthens our Norwegian Sea position, which is an important area to us," says Tim Dodson, Statoil's senior vice president for exploration in Exploration & Production Norway (EPN).

"We've already made several interesting finds and have great faith in the area."

Statoil has a 50% interest in the Midnattssol license following the transaction. One exploration well, named Elida, has already been drilled in the license. The result from this well was interpreted as encouraging for further exploration. Plans call for well number two to be drilled in May/June 2007.

Other licensees are E.ON Ruhrgas with 20%, Petoro (20%) and ConocoPhillips (10%).

Statoil is operator for the I Obelix license. Other licensees are Shell with 7.5%, Petoro (20%) and Gaz de France (30%).

The transactions are dependent on regulatory approval.

Related Companies
 Company: Shellmore info


 - Gulf Of Mexico Lease Sale Nets $315M in Bids, Feds Suggest Trump Bounce (Mar 22)
 - Norway Awards 56 Oil And Gas Licences In Mature Areas (Jan 17)
 - Southern North Sea Special Interest Group Launched (Nov 21)
 Company: Statoilmore info


 - Statoil Exec: Effective Leaders Should Empower People and Machines (Mar 24)
 - Statoil Makes North Sea Oil, Gas Discovery (Mar 24)
 - Gulf Of Mexico Lease Sale Nets $315M in Bids, Feds Suggest Trump Bounce (Mar 22)
 Company: ConocoPhillipsmore info


 - ConocoPhillips CEO Talks Talent Shortage and Learning in the Downturn (Mar 7)
 - Shell Shuns New Oil Sands as Low Crude Prices Force Cost Control (Feb 27)
 - Origin To Take A$1.9B Charge On LNG, Exploration Assets (Feb 15)
 Company: Gaz de Francemore info


 - Grenland Group Delivers Gjoa Subsea Structures (Sep 1)
 - Plexus to Supply Wellhead Systems for Mediterranean E&P Activities (Jul 20)
 - ELNG Completes First Ever Health & Safety Partnership Program with GE O&G (Jul 15)
 Company: Petoromore info
 - Aker Solutions Secures Johan Sverdrup Phase 2 FEED Contract (Mar 21)
 - NPD Grants Consent for the Expansion of Nyhamna Gas Plant (Feb 10)
 - Statoil Granted North Sea Drilling Permit by NPD (Dec 21)
 Company: Ruhrgasmore info
 - Rocksource Hits Dry Well at Breiflabb Prospect (Jul 18)
 - E. On Ruhrgas to Spin Bit in North Sea (Jun 23)
 - Sevan, Ruhrgas Sign LOI for FPSO for Huntington Development (May 4)
For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit www.riglogix.com.
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Executive Protection Coordinator
Expertise: Risk Management|Security
Location: TX
 
United States Denver: Proposals Specialist
Expertise: Business Development|Marketing|Sales
Location: Denver, CO
 
Landman - Midstream Surface Land
Expertise: Landman
Location: The Woodlands, TX
 
search for more jobs

Brent Crude Oil : $50.56/BBL 0.15%
Light Crude Oil : $47.7/BBL 0.70%
Natural Gas : $3.05/MMBtu 1.32%
Updated in last 24 hours