Statoil awarded licenses in Mexico

StatoilStatoil.Photo: Norway Today Media

Statoil, together with BP and Total have been awarded two oil and gas blocks in Mexico.

Statoil is the operator of the licenses, with a 33.4% stake, while the remaining shares are divided equally between the partners: BP and Total.

The licenses were awarded in an open tender on Monday. It is the first time Mexico has allocated exploration licenses in deep waters via this method.

‘As Mexico opens up to foreign operators, it provides industry with great opportunities. We are, therefore, pleased to secure an early position.

The award gives Statoil access to a considerable area in an unexplored region.

The blocks are mainly unexplored, with a lot of uncertainty about what lies underground, but they have great potential to open up a new game strategy’, said Tore Løseth, senior vice president for exploration in the United States and Mexico, in a statement.


Source: NTB scanpix / Norway Today