State-controlled Norway energy firm Statoil aims to invest more in buying new oil assets in the Gulf of Mexico.

Norway energy firm Statoil is looking forward to make a mark in the Gulf of Mexico region as it is planning to buy new oil assets in the region, according to a senior official at Statoil on 21st September 2006. These plans originated after Statoil announced, on 18th September 2006, that it would buy two deepwater discoveries in Gulf of Mexico and an oil prospect from US oil firm Plains Exploration and Production Corporation for $ 700 million.

First discovery is named as 'Caesar', operated by Shell Oil Corporation, of which Statoil will buy a 17.5 % interest. However in 'Big Foot', the second discovery, Statoil will buy a 12.5 % interest.

Statoil's Johan Lydersen said that Statoil views Gulf of Mexico as a key area for them. He said that they are currently not in a mood to stop and more acquisitions are coming in future. They are aiming to make a mark in the Gulf of Mexico.

"The findings of petroleum reserves along the Gulf coast & offshore powered by easy shipping access have lured foreign players in making huge investments in the region of Gulf of Mexico", said an analyst at RNCOS.

The deal will strengthen Statoil's hold in the Gulf of Mexico and is seen as a potential field for growth. Statoil with its partners in USA, Chevron Corporation & Devon Energy found a record deepwater discovery earlier in this month at an appraisal well in Gulf of Mexico, which is situated near Statoil's newly bought oil assets.

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