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

BP Awards Schlumberger Contract for Mad Dog 2 Project

Export Conference 2017: A changing world

Register for this year’s most important conference for Norwegian exporters. We can promise you an interesting and inspirational day!

Meet Elkem Silicon Materials at the Ceramics Expo 2017

Elkem Silicon Metrials invites to meet their team at the Ceramics Expo 2017. This is North America’s largest, free-to-attend exhibition for Ceramic manufacturing and applications.

Event - TechnipFMC at Gastech April 4

Most ship owners are now looking very closely at the benefits that digitalization can bring in operational gains.

Deepocean Awarded Surf Contract from BP for the Foinaven Field

DeepOcean today announced that it had received a call-off under its new Master Service Agreement (MSA) with BP Exploration Operating Company Ltd.

Parquet Floor - a Furniture in itself

Read how a Nordic style, maintenance free new floor is a furniture all in itself. 

Haavik in as Sales Director

Tor Henrik Haavik enters the role as Sales Director in Steinsvik AS. Haavik has an engineering education from Høgskolen i Haugesund and has been employed in Steinsvik since 2002. Haavik comes from the position of Sales Man...

Powder Characterization Experts Offer Solutions to Optimize Process Performance

Freeman Technology, the powder characterization specialists, will be exhibiting at the Ceramics Expo for the first time (25 – 27 April, Cleveland, OH, USA). The company offers material characterization solutions aimed at o...