Statoil makes South African buy

Statoil has acquired a 35 percent interest in Exploration Right 12/3/252 Transkei-Algoa from ExxonMobil in South Africa. Operator ExxonMobil retains 40 percent interest, while Impact Africa holds 25 percent.

Statoil entered its first license in South Africa in 2015, acquiring a 35% interest in the ExxonMobil-operated Tugela South Exploration Right.

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Source: Statoil