EnergyWatch

Statoil invests in one of the world's largest oil discoveries

Statoil, in a consortium with ExxonMobil and another oil player, has placed the highest bid on one of the world's largest oil discoveries in Brazil. The company is strengthening its strategy in a core area, says Statoil CEO.

Photo: Øyvind Hagen - Statoil

Norwegian player Statoil, in a consortium with ExxonMobil and Galp, has won a contract to develop production on one of the world's largest oil fields, the Carcará North block in the Santos basin in Brazil.

The oil company's subsidiary won the tender, reveals Statoil, which is also the operator with a 40 percent share. ExxonMobil also holds 40 percent, while Galp owns 20 percent of the field.

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