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Wintershall buys Statoil assets for $1.3bn

Published September 12, 2014 Updated September 12, 2014 06:29am

1 min

By Parvez Jabri

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OSLO: Norwegian energy firm Statoil has sold a string of assets off Norway to Germany's Wintershall, a unit of chemicals firm BASF, for $1.3 billion, it said on Friday.

Statoil will sell stakes in the Aasta Hansteen, Vega, Gjoea and Asterix fields, and also divest part of its stake in the Polarled pipeline, it said in a statement.

The transaction consists of a cash consideration of $1.25 billion and a $50 million consideration contingent on Aasta Hansteen milestones.

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