Statoil bags four blocks offshore Nicaragua

Norway’s Statoil has been awarded four licences offshore the Nicaraguan Pacific. The licences cover an area of about 16,000 km2 in the largely unexplored Sandino Basin. Statoil will be the operator with 85% equity with the Empresa Nicaraguense del Petroleo (Petronic) participating with the remaining equity.

“Offshore the Nicaraguan Pacific is virtually untested and the awards of new acreage in this frontier area are in line with our exploration strategy of access at scale. This is a long-term opportunity with high subsurface uncertainty, but with impact potential. This position strengthens and develops a wide set of the optionality in Statoil’s long-term international portfolio”, says Nick Maden senior vice president for Statoil’s exploration activities in the Western Hemisphere.

The licence awards represent a country entry for Statoil into Nicaragua. Statoil says it now enters in an early exploration phase and with a step-wise exploration programme. The initial work commitments during the first exploration phase of 2 1/ 2 years include re-processing of 2D seismic, acquisition of new 2D seismic data and geology and geophysics (G&G) studies.

The information obtained from the initial studies and seismic survey will form the decision basis for Statoil’s next steps in the licences.

Share this article

Follow Offshore Energy Today

Events>

<< Jul 2019 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

Uganda International Oil and Gas Summit 2019

Uganda International Oil & Gas Summit will once again examine the industry’s developments…

read more >

8th OIL & GAS AFRICA 2019 CONFERENCE

OIL & GAS AFRICA is one of the most prime regional & international Oil and Gas conferences in East Africa…

read more >

Gas Indonesia Summit 2019

Gas Indonesia Summit & Exhibition is returning for the fourth edition in Jakarta…

read more >

Shanghai Int Petrochemical and Offshore Oil & Gas and Chemical Industry Technology and Equipment Exhibition 2019

cippe Shanghai has attracts both…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply