Statoil has an agreement with the Indian state oil company Oil and Natural Gas Corporation (ONGC) that gives us access to exploration acreage off India, mostly in deep waters.

In July 2008, the Indian Government approved the assignment of a 10% participating interest in Block KG-DWN-98/2 to Statoil in accordance with a previously signed farm-out agreement.

Block 98/2 is located on the East coast of India in the Krishna Godavari Basin. ONGC is operator with a 65% interest. The block covers an area of 7295 square kilometres.

Several discoveries have been made in the block, and both gas and oil have been encountered.