Statoil group to spend C$348 mln on Canada acreage

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Wed Nov 16, 2011 8:09pm GMT

* Statoil, Chevron, Repsol snap up 2 blocks

* Offshore parcels in North Atlantic

* Adjacent to Statoil's 2009 Mizzen discovery

CALGARY, Alberta, Nov 16 (Reuters) - A trio of international oil companies led by Norway's Statoil ASA (STL.OL) won bids for exploration rights off Canada's East Coast on Wednesday, pledging to spend a total of C$348 million ($341 million) on two offshore parcels.

The Canada-Newfoundland and Labrador Offshore Petroleum Board said Statoil, along with U.S.-based Chevron Corp (CVX.N) and Spain's Repsol YPF SA (REP.MC), won a 247,016 hectare (610,300 acre) parcel with a C$202 million bid in the latest call for bids in the Flemish Pass area of the North Atlantic.

That is adjacent to the block that includes Statoil's Mizzen discovery, drilled in 2009. The company has not said what it found at Mizzen, but it began a second well in the region in the summer.

The group also won a 186,780 hectare (461,300 acre) parcel, just south of the other, with a bid of C$146 million.

The bids represent the amount of money the companies plan to spend exploring on the blocks.

Statoil has 50 percent of the partnership, Chevron holds 40 percent and Repsol has the remainder.

Among other locations in the call for bids, privately held Ptarmigan Energy Inc won two parcels off Newfoundland's western coast with total bids of C$2 million. ($1=$1.02 Canadian) (Reporting by Jeffrey Jones; editing by Rob Wilson)

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