ration licences in the UK 28th licensing round, nine as operator. Significant positions have been taken both in mature parts of the Central North Sea, such as in the vicinity of the Mariner and Bressay projects, and in plays largely untested in the U.K. waters. 11 of the licences are in the North Sea and 1 is west of the Hebrides. In 2015, two exploration wells were drilled. The Boatswain well in licence P1758 west of the Mariner field was a discovery. The Wall well in licence P2067 was dry. Work continues to mature the U.K. exploration portfolio. Greenland: The company, along with partners ConocoPhillips and Nunaoil, was awarded block 6 in the East Greenland licence round in 2013. The company is the operator of the block. The licence has a 16-year exploration period. Russia: The company is engaged in a strategic cooperation with Rosneft Oil Company (Rosneft), including a joint cooperation project aimed at undertaking seismic surveys and geological exploration, appraisal, development and production of potential hydrocarbons in four licences on the Russian continental shelf - the Magadan 1, Lisyansky and Kashevarovsky licences in the Sea of Okhotsk (south of the Arctic Circle), and the Perseevsky licence in the Barents Sea (north of the Arctic Circle). Two exploration wells are to be drilled in the Magadan 1 and Lisyansky licences in 2016. Additionally there are two joint cooperation projects onshore; pilot drilling and testing of the onshore heavy oil reservoir layer PK1 in the North Komsomolsky discovery, and the Domanik Sediments Difficult-to-Extract Hydrocarbons Project, aimed at pilot drilling and testing of the limestone Domanik formation in the Russian Volga-Urals basin. For each of these projects, Rosneft holds the majority interest, while the company holds a minority interest. Azerbaijan: The Joint Study Agreement (JSA) with SOCAR for the North Absheron area was completed in 2014. Exploration screening and prospect evaluation is being carried out on an ongoing basis for Azerbaijan offshore areas in order to identify new access opportunities. Indonesia: The company signed the new offshore Aru Trough I PSC licence agreement in May 2015. The licence is adjacent to the company’s existing exploration acreage in the Aru and West Papua IV licences. This is a low-cost access route into a frontier area with potential where the company is already present. This position strengthens the optionality in the company’s long-term portfolio and secures potential upsides from existing exploration acreage. Myanmar: The company and ConocoPhillips were awarded one exploration block (AD-10) in the Myanmar waters of the Bay of Bengal in 2014. A production sharing contract was signed in May 2015. The company (as operator) has completed the IEE (Initial Environmental Examination) and has set up a country office in Yangon. Australia: In the Ceduna sub-basin in the Great Australian Bight, the company holds 30% interest in four exploration licences with BP as operator. In 2014, the company obtained 100% equity share in an exploration licence in the Exmouth Plateau in North Carnarvon basin. New Zealand: The company is operator with 100% equity share in petroleum exploration permits 55781 and 57057 in the Reinga Basin offshore Northland’s west coast. The licences were awarded in the New Zealand Block Offer 2013 and 2014 respectively. The work programme is designed to fully evaluate the prospectivity of the licences in a step-wise manner within the 15-year licence time frame. The company completed 2D seismic data early 2015. In the New Zealand Block Offer 2014, the company was also awarded 50% working interest in blocks 57083, 57085 and 57087 with Chevron as operator. The licences are located in the East Coast and Pegasus basins, southeast off New Zealand’s North Island. The partnership is committed to acquire 2D seismic and 3D seismic within the first exploration period. Fields Under Development Internationally The sanctioned development projects in which DPI is involved are in Algeria, Brazil, Canada, the U.K., and the U.S. North America: The company has various major ongoing development projects in North Am
statoil asa-spon adr
(STO:New York Consolidated)
Phone: 47 51 99 00 00
Fax: 47 51 99 00 50www.statoil.com
The information and data displayed in this profile are created and managed by Capital IQ, a Standard & Poor's company. Bloomberg.com does not create or control the content.
|No competitor information is available for STO.|
|View Industry Companies|
Sponsored Financial Commentaries
Only a company representative may request an update for the company profile. Documentation will be required.
To contact STATOIL ASA-SPON ADR, please visit www.statoil.com. Company data is provided by Capital IQ. Please use this form to report any data issues.