Swap agreement in the Barents Sea

Statoil will take over 15 percent of OMV’s 40 percent interest in production licence 537, while OMV will take over 30 percent of Statoil’s 80 percent interest in production licence 393B, a press release from Statoil informs.

In licence 393B, Statoil will maintain 50 percent interest as the operator.

Both of the licenses are in the Barents Sea.

“We consider this area in the Barents Sea interesting and are very pleased to have secured a stake in this licence,” says Gro Gunleiksrud Haatvedt, vice president for exploration on the Norwegian continental shelf in Statoil. “The Barents Sea is a strategically important area for Statoil, and this agreement further strengthens our position in the area, at the same time as we reduce our exposure in licence 393B,” she adds.

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