Statoil has sold minority stakes in the fields on the NCS, and exit the non-core, non-operated Schiehallion and Rosebank fields, west of the Shetlands Isles, as part of the deal.
With the completion of deal, Statoil’s ownership share will reduce to 51% from 70% in Gullfaks and from 75% to 51% in Gudrun, and retains its operatorship on both fields.
The company plans to use cash from the divestment to invest in high-return projects in core areas such as its recent Norwegian continental shelf discoveries.
Statoil president and CEO Helge Lund said, "We continue to deliver on our strategy to create value through active portfolio management and to further increase our financial flexibility."
