Statoil farms into BP deepwater acreage offshore South Australia

Statoil has agreed to farm into a 30% share of four exploration licenses held by BP offshore Australia.

May 14th, 2013
BP farm out area off South Australia
BP farm out area off South Australia

Offshore staff

STAVANGER, Norway – Statoil has agreed to farm into a 30% share of four exploration licenses held by BP offshore Australia.

The four deepwater licenses, EPP 37, 38, 39, and 40, are in the frontier Ceduna sub-basin within theGreat Australian Bight, off South Australia, and cover more than 24,000 sq km (9,266 sq mi).

BP has completed a 12,000 sq km (4,633 sq mi) 3D seismic survey in the license area and is processing this data. Next steps include maturation of drillable prospects and continued environmental studies. The work program includes drilling up to four wells.

BP will continue to operate the exploration licenses. The transaction is subject to Australian government approval.

5/14/13

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