Statoil Completes Acquisition of Byrding Interest
On 30 December 2016 Statoil and Wintershall Norge (“Wintershall”) completed their previously announced transaction, whereby Statoil has acquired Wintershall’s 25% interest in the Byrding project on the Norwegian Continental Shelf (NCS).
As a result, Statoil’s operated interest in Byrding (PL090B) has increased from 45% to 70%.
Byrding is an oil and gas discovery in the northern part of the North Sea, near the Troll / Fram area which represents a focal point of Norway’s oil and gas production.
The field is scheduled to come on stream in the third quarter of 2017.
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