Statoil has made a successful bid for new licence offshore Canada.
The Norwegian operator and its partners were the winning bidders for six exploration licences in the Flemish Pass Basin, offshore Newfoundland, and two licence offshore Nova Scotia.
The company will operate five licences and also participate in one licence as a partner.
Statoil will be working with a number of different companies including ExxonMobil and BP.
Tim Dodson, executive vice president for Exploration in Statoil, said: “The successful bids in these frontier areas offshore Canada are in line with Statoil’s strategy of deepening our position in prolific basins and securing access at scale, while also adding important optionality to our exploration portfolio.
“The significant exploration investment offshore Newfoundland will provide Statoil an opportunity to further advance our established exploration position in this region through a step-wise approach, while in Nova Scotia, we are able to apply the exploration knowledge and experience we have gained globally and in the North Atlantic specifically.”
Statoil already 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 experience.
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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