Statoil adds permits to New Zealand portfolio
Statoil has been awarded four new exploration permits offshore New Zealand, building on its existing position. This deepens and diversifies Statoil’s long-term portfolio.
The permits are awarded by the New Zealand government through the 2014 Block Offer. Statoil participates in three blocks in the East Coast and Pegasus basins as a partner, and takes on operatorship for one new permit next to existing acreage in the Reinga basin.
“The East Coast acreage adds another high-impact opportunity to our long-term portfolio, while the expansion in the Reinga basin secures access to potential upsides from our existing position. This is in line with our exploration strategy of early access at scale and deepening existing positions,” says Erling Vågnes, Statoil’s senior vice president for exploration in the Eastern hemisphere.
Statoil entered New Zealand through the 2013 Block Offer, with the award of petroleum exploration permit 55781 in the Reinga basin.