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2014-09-05 17:30:00

STATOIL BUYS COLOMBIA

STATOIL BUYS COLOMBIA

Statoil has signed farm-in agreements with Repsol, acquiring a 10% equity share in the Tayrona licence and a 20% equity share in the Guajira Offshore 1 licence.

"With the recent award of the COL4 licence in the 2014 Colombia licencing round and the farm-in agreements with Repsol, Statoil is well positioned in deep-water offshore Colombia. We are gaining access to a vast underexplored frontier area through early access at scale, which is in line with Statoil's exploration strategy," says Nick Maden, senior vice president for Statoil's exploration activities in the Western Hemisphere.

Petrobras operates the Tayrona…

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Tags: STATOIL, REPSOL, COLOMBIA, OIL,
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