Finance & Investing
News Services
Newsletters
Get free industry updates via email.
Daily News
Weekly News
Equipment Updates
Weekly Job Register
Monthly Event Guide
Our privacy
pledge.


advertisement

Statoil, Total Agree to Barents Sea Asset Swap

change text size

Statoil reported Monday that it has agreed on an asset swap with France's Total in the Barents Sea.

Statoil said that it will acquired a 10-percent interest in Norwegian production license 535 in exchange for Total taking a 10-percent equity in PL395.

The two production licenses are situated on the Bjarmeland Platform in the central Barents Sea, where both companies have found gas resources: the Ververis discovery on PL395 in 2008 and the Norvarg discovery in PL535 in 2011.

"The Bjarmeland area has an interesting resource potential which may become important for future gas developments in the Barents Sea. We believe that this transaction creates an interesting platform for future opportunities in this area," Gro Haatvedt, Statoil’s senior vice president for exploration in Norway, commented in a company statement.

The agreement is subject to approval by the Norwegian Ministry of Petroleum and Energy.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Post a Comment Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Ophir Energy Expands Offshore Gabon Fo... (Oct 24)
 -  Impact Scores a New License off West A... (Oct 24)
 -  Chariot Opts Not to Pursue License for... (Oct 23)
 -  Shell Hits Gas in Pre-Salt Reservoir O... (Oct 22)
 -  BP Awards FEED Contracts for Tangguh E... (Oct 22)
Most Popular Articles
From the Career Center
Jobs that may interest you
Business Development Manager
Expertise: Business Development, Client Representative, Regulatory Compliance
Location: Arvada, CO
 
Sr Regulatory Analyst - Southern Region
Expertise: Business Development
Location: The Woodlands, TX
 
ESS Analyst - SAP Accounting & Finance Systems
Expertise: Accounting or Finance, Business Development, Technical Manager
Location: The Woodlands, TX
 
search for more jobs