STAVANGER, Norway – Statoil has won new exploration acreage in the Aru Trough I license offshore Indonesia. Statoil will be the operator with 100% working interest.
The license covers an area of approximately 8,300 sq km (3,205 sq mi) adjacent to the company’s existing exploration acreage in the Aru andWest Papua IV licenses.
Statoil plans to collectseismic data during the first three years of the exploration period and those results will form the decision basis for its next steps in the license.
“This is a low-cost access into a frontier area with considerable potential where Statoil is already present. This position strengthens the optionality in Statoil’s long-term portfolio and secures potential upsides from our existing exploration acreage,” says Erling Vågnes, Statoil’s senior vice president for exploration in the Eastern hemisphere.