Statoil acquires four exploration permits offshore New Zealand

Statoil acquires four exploration permits offshore New Zealand

STAVANGER, Norway -- Statoil has been awarded four new exploration permits in the East Coast, Pegasus and Reinga basins, offshore New Zealand. The permits were awarded by the nation's government through the 2014 Block Offer.

Statoil will participate in three blocks in the East Coast and Pegasus basins as a partner, and take on operatorship for one new permit next to existing acreage in the Reinga basin.

Blocks 57083, 57085 and 57087 were awarded with Chevron as operator; both companies hold a 50% working interest. The permits are located in the East Coast and Pegasus basins, southeast off New Zealand’s North Island. The permits cover more than 25,000 sq km and sit in water depths between 800 m and 3,000 m.

Block 57057 was awarded to Statoil with a 100% working interest. It is located in the Reinga basin offshore Northland, adjacent to Statoil’s existing exploration acreage. The permit sits approximately 100 km offshore and covers an area of 1,670 sq km in water depths of around 1,500 m. Statoil has committed to acquire 200 line km of 2D seismic data within the permit.