EnergyWatch

Total sells oil field in the North Sea for USD 1.45 billion

Future owner of Maersk Oil has sold its majority stake in the large oil and gas field Martin Linge as well as the exploration field Garantiana to Statoil.

Photo: PR-foto: Statoil

Statoil is buying the Norwegian oil and gas field Martin Linge. The Norwegian oil major will pay USD 1.45 billion for the French firm's share of 51 percent in Martin Linge, of which Statoil has thus far owned 19 percent, announce the two companies.

Furthermore, Statoil will take over 40 percent of the Garantiana discovery which is located in the Norwegian part of the North Sea.

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