STAVANGER, Norway – Statoil, Chevron Canada, and Repsol E&P Canada together are the successful bidders for exploration permits on two parcels of the Flemish Pass basin offshore Newfoundland and Labrador.
The parcels are west of Statoil’s Mizzen discovery in the Flemish Pass basin. Statoil will be the operator of both licenses with a 50 % interest. Chevron Canada has 40 % and Repsol E&P Canada has 10%.
“This offers promising growth opportunities near our Mizzen discovery, deepens our exploration portfolio in the region, and supports Statoil’s ambition of building material positions in new offshore clusters,” said Erik Finnstrom, senior VP for Exploration, North America, in Statoil.
In 2011, Statoil operated an exploration program on its Fiddlehead prospect in the Jeanne d'Arc basin and on its Mizzen discovery in the Flemish Pass basin, as well as conducted a seismic program on its EL 1123 license. Statoil also participated in the Suncor Energy-operated, Ballicatters discovery in the Jeanne d’Arc basin.