The transaction has received approval from the UK’s Department of Energy and Climate Change and the joint venture partners.
Nautical Petroleum has received the sale proceeds of £87.5m, and the effective date of the transaction is 3 November 2010.
Separately, Statoil said earlier this week that it was awarded the operatorship of three new exploration licenses on the UK continental shelf.
The company was awarded two licences near the Faroe border and one licence, which covers parts of blocks 8/15 and 9/11D, close to the Statoil-operated Mariner heavy oil discovery.
