Statoil Gets Six Licensing Options in Irish Licensing Round
02 Mars 2016 - 11:53AM
Dow Jones News
By Dominic Chopping
Norway's Statoil ASA (STO) said Wednesday it has been awarded
six licensing options in Ireland's 2015 Atlantic Margin Licensing
Round.
Statoil will be the operator of four licensing options and
partner in two, which will be operated by ExxonMobil.
The six licensing options awarded to Statoil are in the
Porcupine Basin in water depths ranging between 1,100 and 3,150
meters. Statoil and ExxonMobil each hold 50% equity in all the
licensing options.
Work programme commitments are limited to 2D and 3D seismic
surveys to be acquired during 2016 and 2017. The analysis of that
seismic data will then determine whether the company will seek to
convert the licensing options into frontier exploration licenses,
enabling possible exploration drilling at a later stage.
-Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter:
@domchopping @WSJNordics
(END) Dow Jones Newswires
March 02, 2016 05:38 ET (10:38 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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