Statoil farms into Tugela South offshore South Africa

Statoil ASA said it has acquired a 35% interest in an exploration block offshore eastern South Africa through a farmin with a unit of ExxonMobil Exploration & Production.

The 12/3/154 Tugela South Exploration Right lies in 1,800 m of water and covers 9,054 sq km.

The farmin “represents access into a frontier basin where we believe we see indications of an active petroleum system,” said Nick Maden, Statoil senior vice-president.

Operator ExxonMobil E&P South Africa Ltd. now has 40%, while Impact Africa Ltd. has 25%. ExxonMobil acquired the 75% stake in 2012.

Work commitments through 2017 include acquisition of 1,000 sq km of 3D seismic, and studies of geology and geophysics, but no wells (OGJ Online, Mar. 12, 2009).

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...