Statoil and Total E&P Norge AS have signed a sales and purchase agreement whereby Statoil acquires Total's full share in the Valemon unit, 2.5% (5% in PL193B and carve-out of PL193) for a transfer of a 2.0% share in Hild (PL040, PL043 and PL043BS) to Total.
The transaction is an example of active portfolio management as a core measure to enhance value creation.
The transaction is subject to relevant government approvals. Valemon licensees are Statoil (operator – 64.275%), Petoro (30%), Enterprise Oil Norge (3.225%) and Total (2.5%).
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