Exploration to restart in Great Australian Bight as Norway’s Statoil takes over BP permits

June 9, 2017

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Norway’s Statoil has inked a swap agreement with petroleum major BP, and will now start exploration in the Great Australian Bight.

BP in October shelved plans to explore the Bight, following a review of the company’s upstream strategy. The company said at the time that the Bight project would not be able to compete for capital with its other upstream opportunities.

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