Det norske sells Goliat interest

Det norske oljeselskap has sold its 15% interest in Goliat (PL 229, PL 229B, and PL 229C) to StatoilHydro for $211 million.

Offshore staff

TRONDHEIM, Norway -- Det norske oljeselskap has sold its 15% interest in Goliat (PL 229, PL 229B, and PL 229C) to StatoilHydro for $211 million.

Along with this transaction, Det norske has acquired ownership in two licenses in the Jotun and Frøy areas from StatoilHydro. Det norske will receive 10% interest in PL 102, excluding the producing fields Skirne and Byggve. The license is between Frøy and Jotun. In addition, Det norske receives StatoilHydro's 57% interest in a carve-out area of PL 169, just south of Jotun.

In return, StatoilHydro will receive 10% in PL 265; Det norske will keep a remaining interest of 20%.

The transaction is subject to approval from the Norwegian government.

10/13/2008

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