Results were disappointing and although Statoil sees further prospectivity on its acreage, it wants to evaluate the well data and work up new prospects before deciding on future plans.
Stena Carron drilled wells on the presalt Dilolo and Jacaré structures.
Statoil is participating in eight commitment wells across five blocks in the Kwanza basin, of which four have so far been drilled. Another, operated by Total, is under way in block 40.
Costs of terminating the operations and associated services including the Stena Carron rig contract could reach $350 million.