DONG buys Statoil shares

Dansk Olie og Naturgas (DONG) plans to take over Statoil's exploration and production activities in Denmark for $127 million.

Dansk Olie og Naturgas (DONG) plans to take over Statoil's exploration and production activities in Denmark for $127 million. The acquisition consists of 40% of Statoil shares in the Siri Field, 45.7% in the Stine Segment 2 Field, which is produced from the Siri platform, and 18.8% in the Lulita Field. The companies agreed DONG will take over operatorship on the Siri Field, expected on July 1 provided the authorities approve the transfer plan. With this acquisition, DONG's license shares are 63.6% in the Siri Field, 68.6% in the Stine Field, and 32.4T in the Lulita Field.

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