Bilde
The transaction will enable Statoil to redeploy around USD 1.8 billion of capital expenditure for the period from the effective date until the end of 2020.
Statoil monetises on the Aasta Hansteen field development project, while retaining the operatorship and a 51% equity share. The transaction also includes a farm down in four exploration licenses in the Vøring area.
The transaction consists of a cash consideration of USD 1.25 billion and a USD 50 million consideration contingent on Aasta Hansteen milestones.
Through this transaction Statoil focuses its NCS portfolio and further improves its capacity to invest in core areas.

Active portfolio management is part of Statoil’s strategy and this transaction demonstrates the company’s ability to capitalise on successful development projects. Statoil will recognise the accounting gain at completion of the transaction. The gain will be accounted for in the fourth quarter of 2014.
Subject to government approval, the operatorship for Vega and the Vega unit will be transferred from Statoil to Wintershall. The two companies expect that such operatorship transfer will take place within the end of the first quarter of 2015.
Overview of transaction
Before
the
transaction
After the
transaction
TransactionOperatorship
Gjøa
Production licenses 153 and 153B
5%
0%
Full exitGdf Suez is operator
Vega
Production licenses 248, 248B and 090C. Production is via subsea tieback to Gjøa installation.
24.525%
0%
Full exitTransfer of operatorship from Statoil to Wintershall. Subject to government approval 

Aasta Hansteen
Production licenses 218 and 218 B
75%
51%
Farm downStatoil is operator
Asterix
Production licenses 327 and 327 B
70%
51%
Farm downStatoil is operator
Polarled
The Polarled joint venture established under the "NSGI joint venture participants" agreement dated December 21, 2012.
50.331%
37.076%
Farm downStatoil is operator

Exploration license
602
40%
30%
Farm downStatoil is operator
Exploration license
603
35%
25%
Farm downStatoil is operator
Exploration license
528
35%
25%
Farm downCentrica is operator
Exploration license
528 B
35%
25%
Farm downCentrica is operator