Statoil has been awarded a 100% equity share in a large exploration permit located in the prolific Northern Carnarvon Basin on the Northwest Shelf of Australia, the company said in a press release.
This is Statoil’s third asset in Australia, adding to the onshore operatorship in the Northern Territory’s South Georgina Basin and four BP-operated offshore permits in the Great Australian Bight.
The permit WA-506-P covers an area of more than 13,000 sq km (5,019 sq miles) situated 300 km (186 miles) off Western Australia in water depths of 1,500 m to 2,000 m (4,921 ft to 6,562 ft). The permit has been awarded to Statoil by the National Offshore Petroleum Titles Administrator through the 2013 Offshore Petroleum Exploration Acreage Release.
Statoil has committed to collect 2,000 km (1,243 miles) of 2-D seismic and 3,500 sq km (1,351 sq miles) of 3-D seismic data within three years. Based on analysis of this information, Statoil will decide on further steps.
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