Norwegian company will take over two exploration permits from BP, which had scrapped its own drilling plans in December

The Norwegian-based oil and gas company Statoil has announced plans to drill an exploration well in the Great Australian Bight by the end of October 2019.

The company, which is majority owned by the Norwegian government, has signed an agreement to take over two exploration permits from BP for work in the Bight and has also given up its 30% equity in two other licences held by BP.

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