Statoil, strengthening our position in the Barents Sea

abarrelfull wrote on 14 Jan 2011 15:22
Tags: barents deals norway omv statoil

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Statoil and OMV in Norway have entered into an agreement regarding swap of interests in two licences in the Barents Sea.
Statoil will take over 15 percent of OMV's 40 percent interest in production licence 537. The licence was awarded in the 20th licensing round in 2009 with OMV as the operator.

Statoil previously had no ownership interest in the licence. In return, OMV will take over 30 percent of Statoil's 80 percent interest in production licence 393B, where Statoil will maintain 50 percent interest as the operator.

"We consider this area in the Barents Sea interesting and are very pleased to have secured a stake in this licence," says Gro Gunleiksrud Haatvedt, vice president for exploration on the Norwegian continental shelf in Statoil.

"The Barents Sea is a strategically important area for Statoil, and this agreement further strengthens our position in the area, at the same time as we reduce our exposure in licence 393B," she says.

The agreement has been approved by the authorities.

• Statoil, strengthening our position in the Barents Sea

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