Statoil Acquires Exploration Licenses in South Africa
LONDON-- Norway's Statoil ASA (STL.OS) Thursday said without giving financial details that it has a acquired a 35% interest in oil exploration right 12/3/252 Transkei-Algoa, offshore South Africa from ExxonMobil Exploration and Production South Africa Ltd, part of Exxon Mobil Corp (XOM).
Statoil also said it has completed the acquisition 90% interest and operatorship in the Exploration Right 12/3/257 East Algoa from OK Energy Ltd, also without giving financial details.
"These transactions strengthen Statoil's position in South Africa and our long-term exploration portfolio," said Nick Maden, senior vice president for exploration in the southern hemisphere.
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(END) Dow Jones Newswires
September 07, 2017 06:57 ET (10:57 GMT)Copyright (c) 2017 Dow Jones & Company, Inc.