One-Page Deal Sheet
Statoil Makes Major Partnership with Wintershall in North Sea
Equinor Wintershall
Announced Date
October 22,2012
Effective Date
January 01,2013
Close Date
July 31,2013
Transaction Type
JV
Enterprise Value (EV)($MM)
1450
Asset/Basin:
{"North Sea","Utsira High"}
Transaction Details: Subscribe to see
Statoil ASA has signed an agreement to exit the Brage licences, farm down in Gjøa and Vega and acquire a 15% stake in the Edvard Grieg licence near the Johan Sverdrup field in the North Sea.
This transaction with the German oil and gas company Wintershall gives Statoil net proceeds of USD 1.45 billion, and begins a strategic partnership between Statoil and Wintershall.
The consideration to be paid by Wintershall includes a contingent consideration of USD 100 million relating to the production on Vega.
Helge Lund, Statoil's president and chief executive officer, states, "This transaction…
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