Statoil: BP transfers two offshore permits in Australia.
(CercleFinance.com) - Statoil has signed an agreement with BP, granting the Norwegian oil firm approval to acquire two exploration permits in the Great Australian Bay.
The company said Australia's National Offshore Petroleum Titles Administrator (NOPTA) has approved the transfer of two offshore exploration permits, in which Statoil is now operator.
Statoil says it has a good understanding of the local geology, based on high-quality 3D data analysis, in that it has already mapped a number of prospects in its licence area.
"We believe there could be an active petroleum system within our permit area and we are now positioned to test this potential under favourable market conditions for exploration drilling," said Pal Haremo, Statoil's vice president of exploration in Australasia.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The company said Australia's National Offshore Petroleum Titles Administrator (NOPTA) has approved the transfer of two offshore exploration permits, in which Statoil is now operator.
Statoil says it has a good understanding of the local geology, based on high-quality 3D data analysis, in that it has already mapped a number of prospects in its licence area.
"We believe there could be an active petroleum system within our permit area and we are now positioned to test this potential under favourable market conditions for exploration drilling," said Pal Haremo, Statoil's vice president of exploration in Australasia.
Copyright (c) 2017 CercleFinance.com. All rights reserved.