EC approves Statoil's Algeria acquisitions from BP

The European Commission has approved Statoil ASA's $750 million agreement to acquire 49% of BP PLC's interest in the In Salah dry gas project and 50% of its interest in In Amenas gas condensate field, both in Algeria.Sonatrach, Algeria's state oil and natural gas company, approved the deal in October (OGJ, July 21, 2003, p. 37).Meanwhile, the In Salah portion of the deal had to be submitted to the EC, which concluded that the change in control complies with European Union regulations.In other upstream news:Chesapeake Energy Corp., Oklahoma City, announced three transactions in which it will pay a total of $510 million for oil and gas assets in the US Midcontinent, Permian basi...

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