Statoil expands oil hunt with Uruguay investment
Norwegian oil company Statoil expands its oil hunt to South America where the purchase of an exploration license brings the company, for the first time, to an unexplored deep sea area off the coast of Uruguay.
BY MAZ PLECHINGER, ENERGIWATCH
Statoil has acquired 15 percent of an exploration license 200 kilometers off the coast of Uruguay's capital Montevideo, the company writes in a statement.
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