Total swaps Norwegian Sea assets with Statoil

05/13/2013 | Rigzone

Statoil and Total have agreed to swap properties in the Barents Sea. Under the terms, Total will get a 10% stake in Statoil's Norwegian production license PL395 in exchange for a 10% interest in 535. "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," said Gro Haatvedt, Statoil's senior vice president for exploration in Norway.

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