StatoilHydro Sells Danish Interests on Continental Shelf

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:

  • 30% of 04/06, 05/06, 06/06
  • 25% of 05/98
  • 20% of 01/06

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.