Norway-based Statoil has been awarded a 33.33% interest in the COL4 licence offshore Colombia in the Caribbean Sea in the 2014 Colombia Licensing Round.
Spanish energy firm Repsol will operate the licence with 33.34% stake while ExxonMobil Exploration Colombia will hold the remaining 33.33% interest.
Statoil said the licence award, which is subject to the final approval of the National Hydrocarbons Agency of Colombia, marks its entry into Colombia with an early exploration phase.
Initial working commitments, including 2D and 3D seismic acquisition, will enable Statoil to further assess the potential of the basin, with no well commitments in the first exploration phase.
Statoil senior vice-president for exploration activities in the Western Hemisphere Nick Maden said: "Deep-water offshore Colombia is virtually untested.
"The award of new acreage in this frontier area is in line with our exploration strategy of early access at scale."
Statoil is seeking international opportunities in offshore and deep-water development projects.
The company operates oil and gas fields in the UK, the US, Ireland, Russia, Canada, Brazil, Angola, Algeria and several other countries.
Statoil is the largest operator on the Norwegian continental shelf, with the majority of total production.
Image: Colombia map. Photo: courtesy of Statoil.