Statoil and its partners were the successful bidders for six exploration licences in the Flemish Pass Basin, offshore Newfoundland, and two licences offshore Nova Scotia.

The licences offshore Newfoundland total 1,466,918 hectares (14,670 km2), and are located in an area in proximity to the Statoil-operated Bay du Nord discovery. Statoil will operate five licences, and participate in one licence as a partner. The offshore Newfoundland licences awarded are as follows:

•NL15-01-02: Chevron 35% (operator); Statoil 35%; BG 30% (274,732 hectares)

•NL15-01-05: Statoil: 40%; Exxon Mobil 35%; BG 25% (267,403 hectares)

•NL15-01-06 Statoil 34%; Exxon Mobil 33%; BP 33% (262,230 hectares)

•NL15-01-07: Statoil 34%; Exxon Mobil 33%; BP 33% (254,321 hectares)

•NL15-01-08: Statoil 50%; BP 50% (268,755 hectares)

•NL15-01-09: Statoil 100% (139,477 hectares)

The licences offshore Nova Scotia (NS15-1 Parcels 1 and 2) cover an area totalling 650,000 hectares (6,500 square kilometres), and are located approximately 250 kilometres from Halifax, Nova Scotia. The growth of Statoil’s portfolio offshore Newfoundland and new entry offshore Nova Scotia strengthens the company’s long-term position in the Canadian offshore.

Tags: Statoil