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13

Norway to Buy Stakes in Gulf of Mexico Discoveries

Norway's oil and gas giant Statoil ASA plans to acquire interests

Norway's oil and gas giant Statoil ASA plans to acquire interests in and around two deepwater Gulf of Mexico discoveries and one prospect from Anadarko Petroleum Corp., The Woodlands, Texas, for US$901 million.

The deal includes Anadarko's 25% working interest in the Nexen-operated Knotty Head discovery, 15% working interest in the Chevron-operated Big Foot discovery and 15% working interest in the Chevron-operated Big Foot North Prospect. Pro forma the acquisition, Statoil will have a 27.5% working interest in the Big Foot Field and a 27.5% working interest in the Big Foot North Prospect.