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
