StatoilHydro and Bayerngas last week signed a contract transferring ownership of StatoilHydro's assets on the Danish continental shelf.
This covers interests in five licenses on the Danish continental shelf:
The interests are held by the fully owned StatoilHydro subsidiary, Saga Petroleum Danmark A/S, the ownership of which will be transferred to Bayerngas.
StatoilHydro does not consider offshore Denmark a core growth area for its exploration and production activities, and the divestment frees resources, both from exploration commitments and any future developments, for other major ongoing international projects.
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