Statoil was the highest bidder on 6 licences in Brazil’s 11th licensing round, the first licencing round in the country since December 2008. With the new licences, Statoil has strengthened its position in the Espirito Santo basin.
“The new positions underscore our ambition to grow in Brazil, which we see as a region for long-term growth. 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,” says Mr Thore E. Kristiansen, Senior Vice President South America and President for Statoil Brazil.
Statoil acquired a 25% participating interest from Vale SA in BM-ES-22A in the Espirito Santo Basin in December last year. Petrobras is the operator with 75%. The farm-in is pending Brazil National Agency of Petroleum, Natural Gas and Biofuel (ANP) approval. BM-ES-22A is adjacent to the BM-ES-32 licence where Statoil is partner and which holds the Indra discovery.
“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,” says Dodson.
The 11th bidding round on 14 May was conducted by the ANP. The concession agreements from the 11th licencing round are scheduled to be signed in August 2013.
