Statoil/Shell/GDF get two Baffin Bay exploration blocks

Statoil is reporting that it and consortium partners Shell and GDF Suez have won two exploration blocks in Baffin Bay, west Greenland.

Dec 1st, 2010

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

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