) has won participating interests in 10 production licenses in
the Awards in Predefined Areas 2013 (APA 2013) on the Norwegian
Continental Shelf (NCS).
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The interests are part of new acreages in all three NCS provinces
- Barents Sea, Norwegian Sea and North Sea. The company will
operate PL765 in Barents Sea, with a 40% holding. PL765 is a
relatively new license in the Hammerfest basin and holds immense
potential as most of it remains largely unexplored.
Statoil will now operate PL755 with an ownership of 40% in the
Norwegian Sea. The license lies to the east of Heidrun and aims
to achieve optimal near-field exploration through this award.
Statoil has also received a 60% ownership and operatorship in
PL752 and 20% ownership in PL751 - both of which are located in
the less mature Froya high/Froan basin where the company has a
fresh outlook on traditional and new plays.
Moreover, in the North Sea, Statoil has gained ownership and
operatorship of 30%, 50%, 50%, 20% and 77.8%, respectively, in
PL745S, PL739S, PL072D, PL735S and PL333B. The company will also
own 30% in PL044B, which is an additional acreage in the
proximity of PL044 in the southern North Sea.
Statoil still believes that the mature areas of the NCS offer
attractive exploration opportunities. The company is gradually
trying to unlock the full potential of the mature area. This will
result in maximizing value on the NCS.
The growth projects aim to leverage from the company's regional
knowledge and come out with new creative ideas and exploration
concepts. Earlier this month, Statoil submitted its nomination of
blocks for the 23rd licensing round to the authorities.
Statoil carries a Zacks Rank #3 (Hold). Some better-ranked stocks
in the oil and gas sector include
NGL Energy Partners LP
Cheniere Energy Partners L.P.
Pembina Pipeline Corporation
). All these stocks sport a Zacks Rank #1 (Strong Buy).