Statoil said in a statement that the portfolio is comprised of a number of high quality discoveries and exploration opportunities, with the potential to deliver 30,000 net barrels oil equivalent per day by 2008/9, increasing to more than 100,000 net barrels after 2012.
The acquired properties contain expected discovered resources of 334 million net barrels oil equivalent, and expected total resources in excess of 500 million net barrels.
The portfolio comprises an average 40% working interest in 239 gross blocks, covering 1.4 million acres (5665 Km2). The core of the portfolio is the Tahiti development and the
“This acquisition creates a new international core area for Statoil,” commented said Statoil’s Peter Mellbye, Head of International Exploration and Production. “
production, with its attractive fiscal regime and stable political environment, provides an attractive balance to our overall international portfolio.”
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