Statoil expands activities in Gulf of Mexico

Statoil has entered exploration arrangements with ExxonMobil to drill one or more exploration wells in Alaminos Canyon, in the Gulf of Mexico.

Offshore staff

Statoil has entered exploration arrangements with ExxonMobil to drill one or more exploration wells in Alaminos Canyon, in the Gulf of Mexico.

Separately, Statoil and ExxonMobil are jointly evaluating exploration acreage in Walker Ridge, on trend with the Jack and St. Malo discoveries in which Statoil already holds equity interests.

Statoil says that these arrangements with ExxonMobil represent a further strengthening of their company's presence in the deepwater Gulf of Mexico. It is in line with the growth strategy for this new core area, and the location near the licenses acquired from EnCana earlier this year enhances its potential value for Statoil.

08/23/05

More in Home