Wintershall, Statoil complete offshore Norway transaction

Wintershall Holding GMBH and Statoil ASA reported completion of a $1.25-billion transaction involving assets offshore Norway (OGJ Online, Sept. 12, 2014).

Statoil said it farmed into the Aasta Hansteen and Asterix production licenses and the Polarled gas-transport system, and farmed out of Vega and Gjoa fields. The transaction also includes a Statoil farmin of four exploration licenses in the Voring area.

Subject to government approval, operatorship for Vega and the Vega unit will be transferred from Statoil to Wintershall. The companies expect the transfer to take place in first-quarter 2015.

A further payment to Statoil of as much as $50 million is contingent on Aasta Hansteen milestones.

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