OSLO, April 3 (Reuters) - Norway's Statoil (Xetra: DNQ.DE - news) has sold a 15-percent stake in one of its prize oil licenses off Angola to a joint venture that includes London-listed Genel Energy (Other OTC: GEGYF - news) , the firm said on Thursday. The Norwegian oil company said it had done the deal with WRG, a joint-venture composed of Genel Energy and White Rose Energy Ventures, to "share exploration risk". The deal was worth $222 million, Genel Energy said in a separate statement. Statoil will retain a 40-percent stake in the license, called Block 39, and remain the operator. The other partners are France's Total (NYSE: TOT - news) with 15 percent and Angola's state oil firm Sonangol with 30 percent. (Reporting by Gwladys Fouche, editing by Nerijus Adomaitis)
27 Mar '14
hi, is there recovery % announced on the ber behr field yet?
19 Mar '14
BUYS COMING IN
17 Mar '14
In addition, Cairn Energy, as operator of the JM-1 well (Genel 37.5% working interest) offshore Morocco, has today issued the following press release: 'The JM-1 well drilled to evaluate Upper Jurassic and Middle Jurassic objectives reached a total depth of 3,711m true vertical depth subsea and has been plugged and abandoned without testing. In the Upper Jurassic section, the well has confirmed the presence of heavy oil over a gross interval of 110 metres as originally tested in the 1968 MO-2 well, some 2km from the JM-1 well. Reservoir quality and the oil gravity in the Upper Jurassic across the Cap Juby structure require further evaluation by Cairn and its joint venture partners (Office National Des Hydrocarbures et Des Mines "ONHYM" and Genel Energy). Work is ongoing to correlate the core and log data from JM-1 with other wells on Cap Juby to evaluate the extent of moveable hydrocarbons and how any further assessment should be conducted. The Middle Jurassic objective was encountered with limited primary porosity and evaluation of well logs and side wall cores continues.' -ends-
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