Statoil to explore offshore South Africa

Statoil has completed a farm-in transaction with ExxonMobil Exploration and Production South Africa Limited (ExxonMobil), acquiring a 35 percent interest in the ER 12/3/154 Tugela South Exploration Right. “This opportunity is in line with Statoil’s exploration strategy of access at scale. It represents access into a frontier basin where we believe we see indications of an active petroleum system and which has impact potential,” says Nick Maden, senior vice president for Statoil's exploration activities in the Western Hemisphere.