In October 2014 Statoil was awarded 100% equity share in a large exploration permit located in the prolific Northern Carnarvon Basin on the Northwest shelf of Australia.
The permit WA-506-P covers an area of more than 13,000 square kilometres, situated 300 kilometres off Western Australia in water depths of 1,500-2,000 metres.
Statoil has committed to collect 2,000 line kilometres of 2D seismic and 3,500 square kilometres of 3D seismic data within three years. Based on analysis of this information, Statoil will decide on further steps.
In 2013 Statoil acquired a 30% equity share of four BP-operated exploration licences off the coast of South Australia. The licences (EPP 37, 38, 39 and 40) are located in the frontier Ceduna Sub Basin within the Great Australian Bight, and cover more than 24,000 square kilometres of acreage.
BP has completed a 12,000 square-kilometre 3D seismic survey in the licence area. The partnership plans to drill wells during 2016.
Onshore programme completed
Statoil in 2012 acquired interest in the four exploration permits 103, 104, 127 and 128 in the South Georgina Basin in Australia's Northern Territory through a joint venture project with PetroFrontier Corporation, and became operator from 1 September 2013.
The exploration programme, including acquisition of 2D seismic data and drilling of five wells, was completed in 2014. Based on the data collected Statoil decided to withdraw from further activities in the licence area.