Statoil and Wintershall in $1.45bn asset deal

Partnership: Statoil and Wintershall have entered a $1.45 billion involving a number of assets changing hands on the Norwegian Continental Shelf

CORNELIUS POPPE/SCANPIX

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Josh Lewis

 22 October 2012 07:10 GMT

Deal will see Wintershall take Statoil's operated stake in the Brage licence as well as shares in Gjoa and Vega

Norwegian company Statoil has sold off its interest in the Brage licence, while also farming down its interest in two licences and gaining a stake in another in the North Sea, as part of a $1.45 billion deal with Germany’s Wintershall.

Under the asset swap Wintershall will take Statoil’s 32.7% operated stake in the Brage oilfield as well as a 15% interest in the Gjoa licence and 30% share in the Vega licence.

Following the completion of the deal, Statoil will continue to hold a 5% and 24% interest in Gjoa and Vega…

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