Statoil awarded 6 licenses offshore Brazil

Statoil was the highest bidder on six licenses. With the new licenses, Statoil has strengthened its position in the Espirito Santo basin.
The award reflects Statoil’s extensive application and ambition of long-term growth in Brazil. Out of the six licenses awarded in Espirito Santo, Statoil is the operator for four and partner in two of the licenses.
“We are very pleased with the outcome,” said executive vice president for Exploration in Statoil, Tim Dodson. “The award of the blocks in the Espirito Santo basin is in line with Statoil’s exploration strategy to build on core positions in prolific and proven basins.”

Statoil’s application for exploration licenses in the basin is based on established and new geological play models.
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