StatoilHydro wins licenses off Newfoundland and Labrador

Canada has granted StatoilHydro operatorship of one license and a 50% interest in another, both off Newfoundland and Labrador, under its land sale award announced Nov. 17.

Nov 18th, 2008

Uchenna Izundu
International Editor

LONDON, Nov. 18 -- Canada has granted StatoilHydro operatorship of one license and a 50% interest in another, both off Newfoundland and Labrador, under its land sale award announced Nov. 17.

One license is in the Flemish Pass basin, near StatoilHydro's Mizzen well, which is to be drilled this winter. StatoilHydro will operate the well with a 65% working interest; Husky Energy Inc. will hold 35%. The second license is in the Jeanne d'Arc basin. StatoilHydro will partner equally with operator Petro-Canada on the well.

StatoilHydro is a partner in the Hibernia and Terra Nova fields off Canada, with 5% and 15% working interest respectively, in addition to being a partner in developing the Hebron offshore field.

Contact Uchenna Izundu at uchennai@pennwell.com.

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