Statoil acquires an interest in two South African exploration licences

7th September 2017

By: Anine Kilian

Contributing Editor Online

     

Font size: - +

Norwegian multinational oil and gas company Statoil has acquired an interest in two South African oil and gas exploration licences.

It has bought a 35% interest in exploration right 12/3/252 Transkei-Algoa from ExxonMobil Exploration and Production South Africa. The licence covers about 45 000 m2 in water depths of up to 3 000 m.

ExxonMobil retains a 40% interest in the licence, while Impact Africa holds the remaining 25% interest.

Further, Statoil has also bought a 90% interest in exploration right 12/3/257 East Algoa from OK Energy, which retains a 10% interest. The licence covers about 9 300 m2.

“These transactions strengthen Statoil’s position in South Africa and our long-term exploration portfolio. This is in line with our global exploration strategy of early access in basins with high potential,” Statoil southern hemisphere senior VP Nick Maden said in a statement on Thursday.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

The functionality you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION