Statoil's Aussie move

摘要

Norway's Statoil has agreed to acquire 80% of Canada's PetroFrontier Corp (PFC) equity in four exploration permits and two exploration permit applications in the Southern Georgina shale play in Northern Territory, Australia. Statoil will take over operatorship from 1 September 2013 and will carry 100% of the initial exploration phase capped at US $50m.