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Statoil buys deepwater acreage offshore Colombia

Staff writer ▼ | September 5, 2014
Statoil ASA has signed farm-in agreements with Repsol for deepwater licenses offshore Colombia.
Offshore Colombia   Farm-in agreements with Repsol
The first license, Tayrona, covers an area of 16,500 sq km (6,371 sq mi) and is located in water depths of 164 to 4,921 ft (50 to 1,500 m). Operated by Petrobras (40%), Statoil acquired a 10% stake which includes the on-going Orca-1 exploration well.

Repsol retains a 20% stake of the license after farming down 10% to Statoil. Ecopetrol holds the remaining 30%.

Statoil also acquired a 20% equity stake in the Guajira offshore 1 license (GUA OFF-1), which is operated by Repsol (30%). The remaining 50% is held by Ecopetrol. The license spans 12,200 sq km (4,710 sq mi) and is located in water depths of 4,921 to 11,483 ft (1,500 to 3,500 m).

Repsol has acquired a 2D seismic survey in the license area, and is expected to start a 3D seismic survey later this year.