Statoil acquires parts of Shell's interests in two Norwegian Sea licenses |
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Published
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Wed, 25 Apr 2007 16:50
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OSLO (Thomson Financial) - Statoil ASA said it has taken over parts of Shell's interests in two Norwegian Sea exploration licences.No financial details were disclosed, but Statoil said the deals will increase its exposure to an area of the Norwegian Sea in which it has 'made several interesting finds' and in which it has 'great faith'.Statoil said the first deal, for production licence 281, which is called Midnattssol, is effective Jan 1 this year and will increase its holding to 50 pct.In the second deal, Statoil said it will acquire 2.5 pct of Shell's 10 pct interest in production licence 328, which is called Obelix, in the North Sea's Voring Basin. Statoil said the move raises its total interest in the licence to 42.5 pct.Both transactions are dependent on regulatory approval, the Norwegian company said.alastair.reed@thomson.comar/wjCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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DNO sells two Norwegian Continental Shelf licenses to Bayerngas for 70 mln nkr 