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BRIEF-Statoil swaps stakes with BP in four blocks off Australia
June 8, 2017 / 8:52 PM / 2 months ago

BRIEF-Statoil swaps stakes with BP in four blocks off Australia

1 Min Read

June 8 (Reuters) - Statoil Asa:

* Says has signed a swap agreement with BP and has been granted regulatory approval to take over two exploration permits and extend its work program in the Great Australian Bight

* Says has transferred its 30% equity interest in offshore exploration permits EPP37 and EPP38 to BP and exited the licences

* Says BP has transferred its 70% equity interest in offshore exploration permit EPP39 and EPP40 to Statoil and exited the licences

* Says Statoil consequently holds 100% equity interest in the two exploration permits

* Says the regulator has granted Statoil a suspension and extension of the work commitments in EPP39 and EPP40

* Says the approved extension includes drilling of one exploration well in EPP39 before Oct. 30, 2019 Source text: here Further company coverage:

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