Statoil has obtained a 35% interest in the ER 12/3/154 Tugela South Exploration Right, offshore South Africa from a farm-in transaction with ExxonMobil who is the operator with 40% (co-venturer Impact Africa Limited holds 25%),Oilandgaspeople reports.

“This opportunity is in line with Statoil’s exploration strategy of access at scale. It represents access into a frontier basin where we believe we see indications of an active petroleum system and which has impact potential,” Nick Maden, senior vice president for Statoil’s exploration activities in the Western Hemisphere stated.

The Tugela South Exploration Right covers about 9,054 km² and situated offshore eastern South Africa in water depths of 1,800 metres. It represents Statoil’s entry into South Africa in an early exploration phase with a step-wise exploration program.

According to the company, work commitment between 2015 and 2016 comprises of an acquisition of 1,000km² of 3D seismic data and geology and geophysics study (G &G), no commitment well for now.

“The position strengthens and increases the options in Statoil’s long-term international portfolio. We look forward to working with ExxonMobil, Impact Africa and the South African government to explore for oil and gas in this new area for Statoil,” Maden said.