Statoil signs farm-in deals with Repsol for offshore Colombia

Sept. 4, 2014
Statoil AS has signed farm-in agreements with Repsol for two licenses offshore Colombia.

Statoil AS has signed farm-in agreements with Repsol for two licenses offshore Colombia.

Statoil will acquire a 10% share in the Tayrona license and a 20% share in the Guajira Offshore 1 license.

“We are gaining access to a vast underexplored frontier area,” said Nick Maden, senior vice-president for Statoil in the Western Hemisphere.

Brazil’s Petroleo Brasileiro SA (Petrobras) operates Tayrona with 40% interest. Repsol retains 20% and Colombian state-owned Ecopetrol has 30%. The license covers 16,500 sq km in 50-1,500 m of water.

Repsol operates Guajira Offshore 1 and retains 30%, with Ecopetrol holding 50%. The license covers 12,200 sq km in 1,500-3,500 m of water. Repsol has completed a 2D seismic survey and plans 3D seismic work this year.

Statoil was awarded 33.33% interest in the COL4 license offshore Colombia in July (OGJ Online, July 23, 2014).