Statoil/Shell/GDF get two Baffin Bay exploration blocks

Offshore staff

STAVANGER, Norway – Statoil is reporting that it and consortium partners Shell and GDF Suez have won two exploration blocks in Baffin Bay, west Greenland. Blocks 5 and 8 are 9,991 and 10,618 sq km (3,857 and 4,100 sq mi).

Shell is to be the operator, and Greenland’s national oil company Nunaoil will have a carried interest during exploration. Share holdings are as follows:

Block 5: Shell Kanumas A/S (41.125%), Statoil Greenland AS (20.125%), GDF Suez E&P Greenland AS (26.25%), and Nunaoil A/S (12.5%)

Block 8: Shell Kanumas A/S (46.375%), Statoil Greenland AS (14.875%), GDF Suez E&P Greenland AS (26.25%), and Nunaoil A/S (12.5%)

12/01/2010