DOW JONES NEWSWIRES
Norwegian oil and gas company Statoil (STO) said Thursday it is
farming down 10% and 15%, respectively, of its participating
interests in the exploration licences BM-CAL-7 and BM-CAL-10 in the
Camamu-Almada basin offshore Brazil to Canadian company Gran Tierra
Energy Inc. (GTE).
MAIN FACTS:
-Both licences are located in the Camamu-Almada basin offshore
Brazil.
-The transaction is subject to approval by Brazilian authorities
and other conditions to closing.
-Gareth Burns, senior vice president for Exploration strategy
and business development in Statoil says: "This transaction is part
of Statoil's continued optimisation process to maximise value and
reduce portfolio risk."
-The BM-CAL-7 licence is operated by Petrobras (PBR) with 60%
equity, while Statoil has a 40% share.
-BM-CAL-10 is operated by Statoil with 60% equity and Petrobras
holds 40%.
-At 1226 GMT shares traded 1.8% higher at NOK127.20.
-By Dominic Chopping; Dow Jones Newswires; +46-8-5451-3093;
dominic.chopping@dowjones.com