By OGJ editors
HOUSTON, Feb. 7 -- Enterprise Oil Norge AS, a wholly owned subsidiary of AS Norske Shell, and Statoil ASA agreed to swap some assets off Norway in a deal under which Shell will gain interests in three Statoil deepwater exploration licenses.
The agreements remain subject to approval by Norwegian regulators. Norske Shell will acquire from Statoil a 6.45% stake in Kvitebjoern gas and condensate field and the Kvitebjoern oil pipeline.
In return, Statoil will acquire Norske Shell's minority interests in four production licenses and the Norne gas system. The blocks contain Norne oil field, the Stær-Svale development, and the Alve, Falk, and Linerle discoveries. Norske Shell also will divest its 1.18% interest in Snorre oil field to Statoil, which operates all the assets.
In addition, Norske Shell will buy 10% of three Statoil-operated deepwater production licenses: PL 251, PL 322, and PL 327.