Norway's Statoil has relinquished a large ultra-deep water exploration block in Western Australia’s Carnarvon basin.
Block WA-506-P was awarded to Statoil in late 2014 on the basis of a A$50 million three-year work programme of geophysical and geological studies.
The state-controlled company surrendered the permit on 24 August 2017 and the Australian regulator approved the relinquishment on 22 December.
