OMV Pays $2.65B For Statoil North Sea Oil, Gas Stakes

Law360, New York (August 19, 2013, 2:33 PM EDT) -- Norwegian oil giant Statoil ASA has sold stakes in four oil and gas fields in the North Sea to Austrian energy company OMV AG for $2.65 billion, the companies said Monday.

Under the terms of the deal, OMV will acquire a 19 percent stake in the Gullfaks field and a 24 percent stake in the Gudrun field, both located in the Norwegian Continental Shelf. Statoil will retain a majority stake in those fields and continue to operate them.

OMV will also acquire Statoil's 30 percent stake...
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