Statoil Acquires Interest in Block 6 Offshore Tanzania

Statoil has acquired a 12% working interest in the Block 6 licence offshore Tanzania from operator Petrobras Tanzania Ltd.

Block 6 covers 5,549 square kilometres in the Mafia basin offshore Tanzania, with a water depth of 1,800 metres. Block 6 is located approx.170 kilometres north of the Statoil-operated Block 2, where the company in 2012 and 2013 has made three high-impact gas discoveries.

After the farm-in completion, operator Petrobras Tanzania Ltd. will hold a 38% working interest, while the remaining 50% is held by Shell Deepwater Tanzania B.V.

The transaction is subject to approval by Tanzanian authorities.

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Press Release, May 24, 2013