Statoil ASA, in two transactions, has ramped up its offshore participation in South Africa. The operator acquired 35% interest in the 12/3/252 Transkei-Algoa Exploration Right from ExxonMobil Exploration & Production South Africa Ltd. ExxonMobil retains 40% interest, while Impact Africa holds 25%. The Transkei-Algoa license covers 45,000 sq km in 3,000 m of water.
In its second bid, Statoil acquired 90% and operatorship from OK Energy Ltd. in the 12/3/257 East Algoa Exploration Right. OK Energy holds the remaining 10%. East Algoa covers 9,300 sq km.
Statoil entered its first South Africa license in 2015, acquiring 35% interest in the ExxonMobil-operated Tugela South Exploration Right, which covers an area of 9,054 sq km (OGJ Online, Oct. 29, 2015). It is offshore eastern South Africa in 1,800 m of water.
Contact Tayvis Dunnahoe at [email protected].
