Statoil agrees farm-in with OMV in New Zealand

Statoil has agreed with OMV to acquire a 30% working interest in Petroleum Exploration Permit (PEP) 57073. This will further strengthen Statoil’s position in New Zealand. The permit covers an area of 9,800 square kilometres in the East Coast Basin, and sits in water depths of 1,000-2,000 metres. OMV will remain the operator with 70% working interest. The transaction is subject to regulatory approval.