Statoil, along with its partners, has been selected as a successful bidder for six exploration licences in the Flemish Pass Basin, located near Newfoundland, as well as two licences offshore Nova Scotia.
Totalling 1,466,918ha, the Newfoundland licences are located in an area which is close to the Bay du Nord discovery, operated by Statoil.
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As a partner, the company will operate five licences and participate in one licence.
The offshore Newfoundland licences that have been awarded are NL15-01-02, NL15-01-05, NL15-01-06, NL15-01-07, NL15-01-08, and NL15-01-09.
Covering an area totalling 650,000ha, the Nova Scotia licences (NS15-1 Parcels 1 and 2) are located around 250km from Halifax.
Statoil exploration executive vice-president Tim Dodson 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.
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By GlobalData"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."
The licences awarded are located in an area close to Statoil’s previous discoveries in the Flemish Pass Basin and support developing the company’s exploration portfolio.
Statoil has undertaken an exploration drilling programme in the Flemish Pass starting in November last year for a period of 18 months.
The programme, which will appraise the Bay du Nord discovery, also tests new prospects in the greater Basin area.
Statoil holds 65% interest in Bay du Nord and the remaining 35% interest is held by Husky Energy.
Image: Statoil exploration executive vice-president Tim Dodson. Photo: courtesy of Ole Jørgen Bratland./Statoil.
