Petroleum Africa
Find us on: 
Wednesday, April 3, 2013
Asian firms are making a run on East African acreage, the latest being Inpex Mozambique, farming in to Statoil’s license offshore Mozambique. Statoil farmed down a 25% working interest to the Japanese firm which consists of Area 2 and Area 5 in the Rovuma Basin.
“The farm-down reflects the attractiveness of Statoil’s acreage in Mozambique. Bringing INPEX onboard allows the companies to diversify geological risk while sharing the potential upside. The first out of two wells in the license will be drilled during Q2 by the drillship Discoverer Americas,†says Nick Maden, senior VP in Exploration international in Statoil.
The blocks are located in a frontier area with a water depth varying between 300 and 2,500 meters. The area covers 8,041 sq km.
“Our presence in Mozambique is in line with Statoil’s exploration strategy, focusing on early access in a prolific region. Large gas discoveries have recently been made north of the acreage and the prospectivity for hydrocarbons in the Statoil operated blocks is promising,†Maden added.
After the farm-in completion, the block will continue to be operated by Statoil Oil & Gas Mozambique with a 40% participating interest, the other partners being INPEX Mozambique (25%), Tullow Mozambique (25%), a subsidiary of Tullow Oil and Empresa Nacional de Hidrocarbonetos, E.P., the Mozambican state oil company (10%).
The commercial terms of the transaction are confidential and subject to Mozambican government approval.
" alt="First LNG Realized at the Greater Tortue Ahmeyim Project">
" alt="United Energy Acquires Western Desert Producer APEX">
" alt="Baker Hughes Announces Major Gas Technology Orders for Venture Global LNG">
" alt="ReconAfrica: Naingopo Results Demonstrate a Working Petroleum System">
" alt="Tullow Highlights 2025 Operational Plans in Ghana">
" alt="TotalEnergies to Supply 1.5 TWh to STMicroelectronics in France Over 15 years">
" alt="Rockhopper Reaches Final Settlement with United on Egypt’s Abu Sennan Concession">
" alt="Oil & Gas Crucial for African Growth: AEC Calls for Industry Support to Defend African Market">
