Statoil Sells Interest in Gro License
Statoil has sold a 10% interest in the Gro license (PL 326) to PGNiG Norway, and the company will pay a cash amount to cover Statoil's exploration costs for the appraisal well currently being drilled. Statoil will keep a 30% interest in the license, which is still subject to governmental approval. The Gro license is located in the Voring Basin on Block 6603/12 in the Norwegian sector of the North Sea. Natural gas was confirmed in the license by an exploration well in June 2009. Shell operates the license, holding a 60% interest.SubseaIQ provides focused, in-depth coverage of offshore field development activities around the world, with daily updates on hundreds of offshore fields and facilities. Click here to sign up for the free weekly email newsletter.
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