By OGJ editors
HOUSTON, Dec. 5 -- Statoil ASA and Sonatrach International Petroleum Exploration & Production (Sipex) will explore deepwater Block 9 off Egypt.
They won rights to the 8,368 sq km block during the 2006 Egyptian Natural Gas Holding Co. bid round. Statoil will be operator and hold an 80% interest in the block. Sipex will hold a 20% interest.
Statoil and Sipex are committed to drilling one exploration well and shooting seismic surveys over a 4-year period.
The offer is subject to finalization of a detailed production-sharing agreement and approval by the Egyptian parliament.
The round offered Mediterranean blocks in 1,000-3,000 m of water west of the Nile Delta.
