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Statoil successful bid for new licences offshore Canada

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Staff writer ▼ | November 13, 2015
Statoil
Oil and gas   Flemish Pass Basin, offshore Newfoundland, and Nova Scotia

Statoil and its partners were the successful bidders for six exploration licences in the Flemish Pass Basin, offshore Newfoundland, and two licences offshore Nova Scotia.

The licences offshore Newfoundland total 1,466,918 hectares (14,670 km2), and are located in an area in proximity to the Statoil-operated Bay du Nord discovery. Statoil will operate five licences, and participate in one licence as a partner.

The licences offshore Nova Scotia (NS15-1 Parcels 1 and 2) cover an area totalling 650,000 hectares (6,500 square kilometres), and are located approximately 250 kilometres from Halifax, Nova Scotia.

The growth of Statoil’s portfolio offshore Newfoundland and new entry offshore Nova Scotia strengthens the company’s long-term position in the Canadian offshore.

Statoil holds an extensive position in the Flemish Pass Basin, and the licences awarded support developing the company’s exploration portfolio in an environment where Statoil is experienced.

The licences awarded are located in an area nearby to Statoil’s previous discoveries in the Flemish Pass Basin – the Mizzen discovery was made in 2009, and Harpoon and Bay du Nord were both discovered in 2013.


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