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Statoil awarded four licences offshore Nicaragua

Thursday, 28 May 2015 08:00pm EDT

Statoil ASA:Says has been awarded four licences offshore Nicaragua.Statoil will be the 85 percent equity with Empresa Nicaraguense del Petroleo (Petronic) participating with remaining equity.The licence awards represent a country entry for Statoil into Nicaragua.The initial work commitments during the first exploration phase of 2 1/ 2 years include re-processing of 2D seismic, acquisition of new 2D seismic data and geology and geophysics (G&G) studies.

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