Market Overview

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

Share:
Related STO
Earnings Scheduled For July 27, 2016
Benzinga's Top Downgrades
Statoil buys Petrobras oil license offshore Brazil for $2.5B (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!