Statoil announced that it has secured six oil and gas licences in Brazil’s 11th licensing round, reinforcing its position in the Espirito Santo basin.
The Norway-based energy firm will become a operator of four licences and will partner to operate the other two licences.
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Statoil said the latest award reflects its wide application and ambition of long-term growth in Brazil and is based on established and new geological play models.
Statoil Exploration executive vice president Tim Dodson said: "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."
"The new positions underscore our ambition to grow in Brazil, which we see as a region for long-term growth," Dodson added.
"These new licences in the Espirito Santo basin give us a significant acreage position in a proven hydrocarbon basin. They have the potential to provide large-scale additional resources close to our existing discoveries, which with success will result in Statoil building a new core position."
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By GlobalDataStatoil Brazil president and senior vice president South America Thore Kristiansen said: "Access to new quality acreage is an essential prerequisite for further value creation through exploration activities and for increasing Statoil’s international production level from key clusters such as Brazil."
The company has acquired a 25% participating interest from Vale SA in BM-ES-22A in the Espirito Santo Basin in December 2012, while Petrobras is the operator with a 75% stake.
The 11th bidding round, which is the first licensing round in Brazil since December 2008, was held on 14 May by the Brazil National Agency of Petroleum, Natural Gas and Biofuel (ANP).
The concession agreements from the licensing round are slated to be signed in August 2013.
Image: Out of six licences awarded in Espirito Santo, Statoil is the operator for four and partner in two of the licences. Photo courtesy of Statoil.
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