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Statoil buys into South African oil fields

Norwegian oil major Statoil is busy growing beyond its homeland. Last week, the company announced new licenses in South America and now the company is making its foray into South Africa.

Photo: Harald Pettersen - Statoil
BY

Over the past week, Statoil has been pursuing a strategy of international growth.

Today, the company bought the exploration rights to two South African fields, while last week the oil major announced that it would also cross the Atlantic to South America.

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