BRIEF-Statoil buys stake in Uruguay offshore block

lunes 15 de febrero de 2016 05:30 GYT

Feb 15 (Reuters) - Statoil says:

* Statoil strengthens its position in Uruguay

* Statoil has signed a farm-in agreement with Tullow Oil to acquire a 35-percent working interest in offshore exploration block 15 in the Pelotas basin, deepening its position in Uruguay.

* Statoil says increasing its exposure to the upside potential of this untested geological setting. This is in line with Statoil' exploration strategy of access at scale

* Recently Statoil announced its entry into Uruguay as partner in exploration block 14. By accessing the adjacent block 15 Statoil continues to pursue this regional geological trend.

* A comprehensive data collection program has already been completed in the block. As operator, Tullow is planning to collect further 3D seismic before a decision is made on further steps. Further company coverage: (Reporting by Gwladys Fouche)