Norway’s Statoil signed farm-in agreements Friday with Spain’s Repsol to acquire stakes in two deepwater offshore Colombia licenses.
Statoil will gain a 10 percent share in the Tayrona licence and a 20 percent share in the Guajira Offshore 1 licence.
The Tayrona licence covers about 6,370 square feet and is located in water depths of 164 to 4,921 feet.
Brazil’s Petrobras operates the Tayrona licence and holds a 40 percent stake. The Tayrona licence includes the Orca-1 exploration well.
Repsol will retain a 20 percent share after farming down 10 percent to Statoil.
The remaining 30 percent of Tayrona is held by Colombia’s Ecopetrol.
The Guajira Offshore 1 license covers 4,710 square miles and is located in water depths of 4,921 to 11,482 feet.
Repsol operates the Guajira Offshore 1 and will retain a 30 percent stake after farming down 20 percent to Statoil.
The remaining 50 percent stake is held by Ecopetrol.
Repsol has completed a 2D seismic survey in Guajira Offshore 1.
A 3D seismic survey is expected to start later this year.
The deals are subject to the approval of the National Hydrocarbons Agency of Colombia.
“Statoil is well positioned in deep-water offshore Colombia. We are gaining access to a vast underexplored frontier area through early access at scale, which is in line with Statoil’s exploration strategy,” senior vice president for Statoil’s exploration activities in the western hemisphere Nick Maden said.