Statoil Divests NCS Stakes for $1.6B

Rigzone reported that Statoil (NYSE:STO) has sold the company’s interests on the Norwegian Continental Shelf for $1.6 billion to Centrica (LSE:CNA).

As quoted in the market news:

According to the terms, Centrica will acquire oil and gas fields producing up to 34,000 barrels a day of oil equivalent, an increase of approx. 25 percent, plus additional exploration acreage in Norway’s North Sea.

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