UK grants Statoil 12 licence interests / News / The Foreigner

UK grants Statoil 12 licence interests. Britain’s DECC awarded the Norwegian energy giant these, nine as operator, in the 28th licensing round on the UKCS, Thursday. 11 of the licences are in the North Sea, the remaining one west of the Hebrides. The additional acreage comprises some 8,000 square kilometres (about 3,088 square miles).

statoil, ukcs, oil, gas, energy, norway



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UK grants Statoil 12 licence interests

Published on Friday, 7th November, 2014 at 10:13 under the news category, by Michael Sandelson   .
Last Updated on 7th November 2014 at 10:29.

Britain’s DECC awarded the Norwegian energy giant these, nine as operator, in the 28th licensing round on the UKCS, Thursday.

28th UKCS Licensing Round map
Statoil gains an additional 3,088 square miles of acreage under this award.28th UKCS Licensing Round map
Photo: Statoil


11 of the licences are in the North Sea, the remaining one west of the Hebrides.

The additional acreage comprises some 8,000 square kilometres (about 3,088 square miles).

“We were awarded all the acreage that we had applied for and are of course very pleased with the outcome of this licensing round. These awards strengthen our UK continental shelf portfolio significantly and underpin our long-term commitment as an operator in UK waters,” Erling Vågnes, senior vice president for exploration in Statoil says in a statement.

Statoil already holds what it terms “significant positions” in mature parts of the Central North Sea, which include those near the Mariner and Bressay projects.

The company intends to drill two exploration wells in 2015 in acreage the British government’s Department of Energy and Climate Change awarded in 2012’s UK Continental Shelf Licensing Round.

167 new licences were offered, covering 330 blocks across the North Sea. Statoil was offered 19 blocks west of Shetland and in the North Sea.

The company called the bids it submitted in May of that year as being “the most extensive ever made in Statoil’s history on the UKCS.”

“This new acreage holds the potential for new high-value barrels in our greater North Sea core area, both near our existing heavy oil projects and in new areas. This is in line with Statoil’s exploration strategy of taking large, untested acreage positions and deepening existing core areas,” states Erling Vågnes.   



Published on Friday, 7th November, 2014 at 10:13 under the news category, by Michael Sandelson   .
Last updated on 7th November 2014 at 10:29.

This post has the following tags: statoil, ukcs, oil, gas, energy, norway.





  
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