News, Oil & Gas

Statoil signs new agreements in Colombia

Statoil and Repsol have signed farm-in agreements, resulting in Statoil acquiring a total of 10% equity share in the Tayrona licence, as well as a 20% equity share in the Guajira Offshore 1 licence.

“With the recent award of the COL4 licence in the 2014 Colombia licencing round and the farm-in agreements with Repsol, Statoil is well positioned in deep-water offshore Colombia. We are gaining access to a vast underexplored frontier area through early access at scale, which is in line with Statoil’s exploration strategy,” says Nick Maden, senior vice president for Statoil’s exploration activities in the Western Hemisphere.

 

 

Read the full press release at Statoil.com.