The company acquires Hess’ 11.25% participation interest in PL097 and 8.33% interest in PL110 together constituting a 3.26% interest in the Snohvit Unit and in the Hammerfest LNG-facility located at Melkøya.
A 3.26% participation interest in PL110B, PL110C, PL448 and PL488 is also part of the agreement.
Statoil will pay a post-tax amount of NOK1bn ($178.25m) to acquire the participation interest and closing of the transaction is subject to government approvals.
Upon completion of this transaction, Statoil’s owner-share in Snøhvit will be 36.79%.
