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Statoil sheds Angola offshore block 15/06

12th May 2014

Statoil is divesting its five per cent participating interest in the ENI-operated block 15/06 offshore Angola to the concessionaire Sonangol E.P

Statoil sheds Angola offshore block 15/06
This transaction is part of Statoil’s continued optimisation process to maximise value and focus financial and organisational capabilities to core assets - Tove Stuhr Sjøblom, Statoil sub-Saharan Africa senior vice president

The transaction, subject to customary closing conditions, includes a consideration of USD 200 million and an effective date of 1 January 2013.

 “This transaction is part of Statoil’s continued optimisation process to maximise value and focus financial and organisational capabilities to core assets. The transaction will allow Statoil to unlock capital and contribute to improved financial flexibility going forward,” said Tove Stuhr Sjøblom, Statoil sub-Saharan Africa senior vice president.

The Angolan continental shelf is the largest contributor to Statoil's oil production outside Norway and is a key building block for Statoil’s international production growth.

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