Norway’s Statoil has agreed to sell part of its interests in the US Gulf of Mexico to the China National Offshore Oil Corporation (CNOCC), the company announced today.
Statoil spokesman Ola Morten Aanestad said that Statoil and CNOOC signed the agreement on 29 October, making the Chinese company part owner of four Statoil leases in the region, wrote the Associated Press.
Aanestad said that Statoil sold 20% of its shares in one lease and 10% in each of the other three leases. The value of the deal was not revealed.
He said that the move was “in line” with Statoil’s strategy in the Gulf, where the company’s American-based subsidiary is among the largest owners of deepwater leases, with more than 400 licences.
Last week the company announced that it would change its name from StatoilHydro to Statoil as part of a rebranding exercise.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData