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Selling Trym interest

July 9, 2007, 10:00 CEST

Statoil has today, 9 July, signed a deal for the sale of its 30% interest in production licence 147 Trym in the North Sea to Bayerngas Norge.

Trym lies in the North Sea's southern sector close to the Danish sector boundary and is mainly a gas field. Other licence owners are Dong with a 20% interest and operator Shell with 50%.

"The sale is part of a rationalising of the total Norwegian continental shelf portfolio," says Tim Dodson, acting executive vice president for Exploration & Production Norway (EPN).

"We sold our North Sea Murchison interest recently to the Norwegian oil company Revus and are therefore satisfied that the process of selling Trym is now also complete."

The deal with Bayerngas is subject to regulatory approval.