The company will drill the well, part of block 16/2 and situated about five kilometres northeast of well 16/2-10, using the Ocean Vanguard drilling rig.

The drilling will commence following spudding the wildcat well 34/7-35 S in production licence 552.

Drilling program for well 16/2-12 concerns the drilling of a wildcat well in production licence 265 that consists of part of block 16/2.

Statoil, as the operator holds a 40% stake in the well while others partners include Petoro, Det norske oljeselskap and Lundin Norway with 30%, 20% and 10%, respectively.

The permit is subject to the condition that the operator has all other permits and regulatory approvals required prior to drilling.