Looking for a specific product?

Make a search for products & suppliers, articles & news.

Statoil farms down in Mozambique

Statoil has farmed down a 25% working interest in its operated exploration licence offshore Mozambique to Tullow Oil plc (Tullow).

The licence, which consists of two blocks under one licence agreement is located in area 2 and 5 offshore Mozambique in the Rovuma basin.

"The farm-down reflects the attractiveness of Statoil's acreage in Mozambique and having Tullow onboard allows us to share the geological risk while retaining a significant working interest," says Nick Maden, senior vice president in Exploration international in Statoil.

The blocks are located in a frontier area with a water depth varying between 300 and 2,400 metres. The area covers 7,800 square kilometres.

"Our presence in Mozambique is in line with Statoil's exploration strategy focusing on early access in a prolific region. Large gas discoveries have recently been made north of our acreage and the prospectivity for hydrocarbons in the Statoil operated blocks is promising," adds Maden.

Statoil operates the licence and retains a 65% working interest after the farm down. The remaining 10% interest is held by Empresa Nacional de Hidrocarbonetos (ENH) which is carried through the exploration phase. ENH has waived its pre-emption right and approved the agreement.

Associated companies:


Related news

Latest news

Feeding the future with AKVA

AKVA group has seen a strong market response to the new AKVAconnect feeding system, released late 2016 into the Chilean market. Customer feedback has been very positive resulting in a strong increase in sales.

The Mohammed bin Rashid Al Maktoum Solar Park Phase II will be managed by GreenPowerMonitor monitoring solutions

The project forms part of the larger 1 GW Mohammed bin Rashid Al Maktoum Solar Park

CHALET AND CHALETINO, OAK FLOORING OF EXCEPTIONAL LENGTH AND WIDTH

Chalet and Chaletino from BOEN is parquet flooring made with exceptionally wide and long planks of the finest timber.

Fire in Vestdavit offices – Possible disruption of service

Vestdavit and all staff would like to express sincere thanks for the inquiries and good wishes sent to us by our industry partners,

TechnipFMC and DOF Subsea announce delivery of Sk

Technip FMC and DOF Subsea announce the delivery of Skandi Búzios and commencement of contract with Petrobras.

DNV GL Receives APS’s Supplier of the Year Award

DNV GL has been awarded Arizona Public Service Company (APS) 2017 Supplier of the Year Award for Customer Service in recognition of its work helping APS deliver the Solutions for Business energy efficiency program.

DNV GL advises on GBP 210 million investment for three new UK wind farms

DNV GL advises respected lenders, including Santander, on their GBP 210 million investment in a new 151 MW onshore wind portfolio.

Semcon Initiative for more Women as Engineers

In a new survey, half of the young women who want to study technology say that they lack female role models. With a mentoring programme for high schools and the browser extension Re-Search, technology company Semcon hopes ...

Akvaplan-niva and Roscongress Sign Agreement For Cooperation

Akvaplan-niva and Roscongress sign agreement for cooperation between Arctic Frontiers and Arctic: Territory of Dialogue.