Statoil Added to the Consortium of Oil Exploration in Block 14

Source: www.gulfoilandgas.com 4/7/2016, Location: South America

The president of Ancap, Marta Jara, and the authorities of the Total companies, ExxonMobil and Statoil signed a contract that Total, operator of Block 14 hydrocarbon exploration in the Uruguayan sea platform yields to the Norwegian company Statoil 15% of the contract it has with the Uruguayan government. As a result of this business, it is constituted a consortium of Total, ExxonMobil and Statoil.

The event took place in the auditorium of Ancap with the presence of the Minister of Industry, Energy and Mining, Carolina Cosse, who stressed the "collective joy" by this "formal step" on the road that has been undertaken long ago and it expects will continue for much longer, for the benefit of Uruguay and the partners involved in the consortium.

Meanwhile, Ancap president thanked the team, led by the manager of Exploration and Production Public Company, the entire team, as well as counterparts for having bet on Uruguay.

All agreed on the importance of continuing to have a safety record, to ensure the highest l successes for this route.

Meanwhile, the head of Business Statoil, Odd Erik Flaatin said that this is an interesting opportunity, challenging from a technical point of view, and with a promising potential.

The CEO of Total operator to Uruguay, Artur Nunes Da Silva, welcomed the creation of this consortium and recalled that the three companies have previously worked elsewhere with great success, both contractually and technically. He said the priority is the commitment to sustainable development and security and maintain transparency throughout the process.

Finally, exploration manager for South America ExxonMobil, Charles Canavan, stressed that the association is formed is very strong, and also recalled that the three companies have previously worked very successfully in deep water, as in the case of maritime platform Uruguayan.


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Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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