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Statoil farms into offshore exploration acreage in Australia

Statoil has signed a farm-in agreement with BP, acquiring a 30 percent equity share in four exploration licences offshore South Australia. Bilde Pål Haremo, senior vice president for Global new ventures in Exploration. "With this agreement we gain access to a vast, underexplored area with high-impact potential," says Pål Haremo, senior vice president for Global new ventures in Exploration. "This is in l...

Exploration - May 14, 2013

Exxon, Statoil to develop 6 bn barrel Gulf find

ExxonMobil and Statoil have agreed to spend $4 billion to develop a six billion barrel oil field in the Gulf of Mexico, the two companies said. The Julia oil field, about 200 miles (320 kilometers) offshore south of New Orleans, Louisiana, will take about three years to bring into production, they said in a statement late Tuesday. The field holds about six billion barrels worth of oil and gas resources, they said. The initial six produ...

Exploration - Oil and Gas - May 8, 2013

Ivory Coast: Ivoire-1X exploration well on Block CI-100 encountered a horizon with high-quality oil

Total announces that the Ivoire-1X exploration well, located in the western portion of Block CI-100 in 2,280 meters of water, encountered 28 meters of net oil pay in a series of about 100 meters of Cretaceous reservoirs. The oil in the abrupt margin geological play is light 35 API oil. Operated by Total E&P Côte d’Ivoire, Ivoire-1X is the first well drilled on the CI-100 block. It was drilled to a total depth of 5,044 met...

Exploration - Apr 25, 2013