Statoil Completes Transactions With Repsol in Norway and US

Statoil and Repsol have completed two of the transactions announced on 11 December 2015:

• Statoil has farmed down to Repsol a 15% interest in the Gudrun field on the Norwegian Continental Shelf. Statoil remains the operator and largest equity holder with a 36% interest.
• Statoil has acquired from Repsol a 13% interest in their Eagle Ford joint venture and has become its sole operator.

In addition, the application for Statoil to assume operatorship of the BM-C-33 licence in Brazil’s Campos basin has been submitted to the authorities for approval.

Statoil’s acquisition of a 31% equity share in the UK licence for Alfa Sentral remains pending Repsol partner approval.