Statoil Exits Bahamas Acreage

摘要

Highlighting Statoil's ongoing efforts to prioritize capital investments, the Norwegian major has notified state-owned Bahamas Petroleum Co. (BPC) of its intention to withdraw from three licenses off the coast of the Bahamas, located east of the US state of Florida. As a result of this decision, which follows "significant exploration successes elsewhere and a subsequent review of [Statoil's] global portfolio," the three license applications in place since May 2009--Zapata, Falcones and Islamorada--will revert to BPC. All application costs have been fully borne by the company.