Wintershall Pays $1.25B for Stakes in Norwegian Oil, Gas Fields

Wintershall announced Monday that it has bought stakes in a number of oil and gas fields in the Norwegian North Sea from Statoil for $1.25 billion.

The deal is part of Wintershall's plan to increase its Norwegian production from around 40,000 barrels of oil equivalent per day to approximately 60,000 boepd. It sees the German company acquire a five-percent interest in the Gjøa field and a 24.5-percent stake in the Vega field.

Wintershall will also take over shares in Aasta Hansteen development project (24 percent), the Asterix discovery (19 percent) and the Polarled pipeline project (13.2 percent), while it gains stakes in four other exploration licenses near Aasta Hansteen.

Together the shares in the assets encompass reserves and resources of around 170 million barrels of oil equivalent (2P/2C case). Wintershall will also assume the operatorship of the Vega production field by the end of the first quarter of 2015.

 



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

WHAT DO YOU THINK?

Click on the button below to add a comment.
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
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Petrofac Suspends Group Chief Operatin... (May 25)
 -  EnQuest On Track For Kraken First Oil ... (May 25)
 -  Energean Signs Lease Agreement for Exp... (May 25)
 -  Seadrill CEO Praises Workforce (May 24)
 -  Serinus Shuts-In Sabria Field Due to S... (May 23)


Most Popular Articles

From the Career Center
Jobs that may interest you
Global Business Development Manager
Expertise: Business Development
Location: Houston, TX
 
United States Canonsburg: Proposals Specialist
Expertise: Business Development|Marketing|Sales
Location: Canonsburg, PA
 
Senior Land Professional Job
Expertise: Landman|Lease Analyst
Location: Oklahoma City, OK
 
search for more jobs

Brent Crude Oil : $51.46/BBL 4.63%
Light Crude Oil : $48.9/BBL 4.78%
Natural Gas : $3.18/MMBtu 0.90%
Updated in last 24 hours