Equinor Considers Selling a 28% Stake in Statfjord Field

Equinor Considers Selling a 28% Stake in Statfjord Field
Statfjord B. Photo: Harald Pettersen

Norway’s Equinor is considering selling a 28% share in the Statfjord field, which spans the Norwegian and British continental shelves, as well as minor stakes in a number of satellite fields, According to a presentation reviewed by Reuters.

According to a person familiar with the sale, the company has contacted American investment bank Houlihan Lokey to provide advice on the sale, which may bring in up to $500 million.

According to the presentation, Equinor also intends to sell minority holdings in the related fields Statfjord North, Statfjord East, and Sygna.

Gas from Statfjord is piped to the St Fergus terminal in Britain while oil from Statfjord is exported through shuttle tankers.

Equinor currently owns 78.6% of Statfjord, 45% of Statfjord North, 43.3% of Statfjord East, and 43.4% of Sygna. It is anticipated that Equinor will continue to have an interest in the fields following any sales.

Login

Welcome! Login in to your account

Remember me Lost your password?

Don't have account. Register

Lost Password

Register