On April 21, Statoil ASA (NYSE: STO) said that it would participate in the three-year Barents Sea Exploration Collaboration (BaSEC) group with Eni Norge, Lundin Norway, OMV and GDF Suez SA (OTC: GDFZY). BaSEC will begin immediately.
Statoil and Eni Norge initiated BaSEC, and Statoil will lead the first phase.
The companies aim to find common solutions for operations in the Barents Sea, and contribute to high levels of safety and emergency response. Sharing data, cost-effective solutions, more collaboration and increased coordination will be emphasized.
The project will cover the whole Barents Sea with particular focus on areas in the 23rd licensing round, the company added.
Working groups for MetOcean, ice, environment and oil spill response, logistics and emergency preparedness, mobile drilling units and health and working environment will be established, and all companies will contribute to them, and the steering group.
Participating companies must have made discoveries in the Barents Sea and/or have two or more operated licenses north of 73 degrees north. The project will consider adding more participants after the awards in the 23rd licensing round.
GDF SUEZ will collaborate on solving operational tasks tied to Barents Sea exploration.
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