2010-01-07-2009-11-05-2009-11-05

Acquired 10-20% WI in Tucker, Logan, Krakatoa, Cobra leases in GOM.

The Chinese national oil company CNOOC has acquired a minority stake in four exploration prospects in the deepwater Gulf of Mexico from Norwegian E&P Statoil ASA (NYSE: STO) (fka StatoilHydro) for an undisclosed price, pending approval by the Minerals Management Service, according to Statoil, marking the first time a Chinese oil company has acquired U.S. reserves. The deal involves a 20% interest in the Tucker lease in Walker Ridge, and a 10% interest in the Logan, Krakatoa and Cobra leases, according to Statoil spokesperson Kjersti Torgersen. Statoil will remain operator. Statoil has two rigs operating on the leases. The Maersk Developer began drilling Tucker in September, and the Transocean Discoverer Americas spud Krakatoa in mid November. In August, Statoil farmed down a 10% interest in its exploratory Asp, Taipan, Constrictor and Coral prospects in the deepwater Gulf of Mexico to Spanish integrated oil and gas company Repsol YPF SA for an undisclosed price.