#Statoil buys stake in block offshore #Suriname from Tullow Oil #frontierexp
According to Reuters, Norwegian oil and gas firm Statoil acquired a 30-percent stake in a licence about 270 kilometres offshore Suriname from Tullow Oil, Statoil said on Friday. Tullow, the operator in the block, will retain a 70 percent stake, Statoil said in a statement.
Statoil said a recent discovery offshore nearby French Guyana was "a promising indication of the potential in the region."
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Learn from Mr Gareth Burns, SVP Exploration Strategy and Business Development, Statoil about creating business development strategies aimed at bringing previously unreachable resources to production. Mr Burns will be speaking at World Frontier Exploration Congress 2011, held from 13-15 December at the Guoman Tower Hotel, London, UK.