Exxon enters Faroes on Statoil farm-in

Offshore staff

HOUSTON – ExxonMobil Exploration & Production Faroe Islands Ltd. says it will acquire interests in licenses 006, 009, and 011 offshore the Faroes. Statoil will remain operator on all three.

The partnership plans to drill an exploration well in the second half of this year.

This is ExxonMobil’s first venture into the Faroes. Statoil has held offshore licenses there since 2000.

03/01/2011



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