Market Overview

From Earlier: Statoil Announces Second High-Impact Discovery for Statoil Offshore Tanzania

Share:
Related STO
Bemzinga's Weekend M&A Chatter
Earnings Scheduled For July 27, 2016
Bakken Update: A Brief Overview Of How To Invest In U.S. Oil E&Ps By Using Knowledge Of Sweet Spots (Seeking Alpha)

Statoil (NYSE: STO) and partner ExxonMobil (NYSE: XOM) have made a large gas discovery in the Statoil-operated Block 2 licence in Tanzania.

The logging results from the Lavani well confirm a new high-impact discovery for Statoil, with a preliminary resource estimate of 3 trillion cubic feet (Tcf) of gas in place. The Lavani well has encountered 95 metres of excellent quality reservoir sandstone with high porosity and high permeability.

Posted-In: News Global

 

Related Articles (STO + XOM)

View Comments and Join the Discussion!