Statoil and OMV in Norway have entered into an agreement regarding swap of interests in two licenses in the Barents Sea.
Statoil will take over 15 percent of OMV's 40 percent interest in production license 537. The license was awarded in the 20th licensing round in 2009 with OMV as the operator.
Statoil previously had no ownership interest in the license. In return, OMV will take over 30 percent of Statoil's 80 percent interest in production license 393B, where Statoil will maintain 50 percent interest as the operator.
"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 license 393B," she said.
The agreement has been approved by the authorities.
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