Norwegian oil and gas major Statoil ASA (STO) said
Monday it has reached agreement with Total S.A. (TOT) on an asset swap in the
Barents Sea
.
MAIN FACTS:
-Statoil
acquires 10% equity in production license PL535 in exchange for 10% equity in
PL395.
-Production licenses PL395 and PL535 are situated on the Bjarmeland Platform in
the central
Barents Sea
, where both companies have
proved gas resources: Ververis discovery in PL395 (2008) and Norvarg discovery
in PL535 (2011).
-In PL535 there is also an ongoing appraisal well Norvarg II.
-Gro Haatvedt, senior vice president exploration
Norway
,
says: "The Bjarmeland area has an interesting resource potential which may
become important for future gas developments in the
Barents
Sea
. We believe that this transaction creates an interesting platform for
future opportunities in this area."
-The agreement is subject to approval by the Norwegian Ministry of Petroleum
and Energy.
-At 0816
GMT shares traded 0.7% higher at NOK138.90.