Statoil acquires Eagle Ford interest from Repsol, makes further transactions

Norway’s Statoil informed it has acquired a 13 percent interest in the Eagle Ford joint venture from Repsol, becoming the sole operator of the shale gas assets. 

Statoil said in a statement on Friday, the transaction will allow an optimal field development and operations making it more resilient to the low oil prices.

The two companies also agreed for Repsol to acquire a 15 percent stake in the Gudrun field on the Norwegian Continental Shelf, Statoil added, noting that it remains the operator with a 36 percent interest.

The two transactions are valued at the same amount and are expected to close before the end of 2015.

Statoil also revealed it has agreed to acquire 31 percent equity share in the UK license for the Alfa Sentral gas and condensate field for approximately US$20 million, and has also agreed with to assume operatorship of the BM-C-33 license in Brazil’s Campos basin.

 John Knight, Statoil’s Executive Vice-President for Global Strategy & Business Development said that the Eagle ford shale and Bazil are Statoil’s focus areas.

LNG World News Staff