By OGJ editors
HOUSTON, Jan. 24 -- Statoil ASA is selling its interests in two production licenses at the southern end of the Norwegian continental shelf to Paladin Resources Norge.
This transaction involves Statoil's 30% holding in PL 143, where a small oil discovery has been made, and its 25% holding in PL 239. The two licenses cover blocks 1/2, 4/4, and 4/5 on the boundary with the UK North Sea sector.
This sale represents Statoil's strategy of concentrating on its core areas, which do not include PLs 143 and 239. The transaction awaits approval by the Norwegian authorities