Offshore

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.
Photo: Øyvind Hagen - Statoil
Photo: Øyvind Hagen - Statoil
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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