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Statoil selling out in Angola

Statoil is divesting ten percent of its ownership stake in two blocks off the coast of Angola in an effort to maximize the value of core assets, says the company.

Photo: Harald Peterssen, Statoil

The Norwegian oil company has decided to sell ten percent of its ownership stake in two blocks off the coast of Angola. This is part of Statoil's continuous efforts to optimize and adjust its portfolio, says the company in a statement:

"We do this to maximize value of core assets. The transactions will allow Statoil to unlock capital ahead of an extensive drilling campaign in the Kwanza basin," says Gareth Burns, senior vice president in Global Strategy and Business Development, Statoil.

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