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Statoil divests billion-dollar assets to Wintershall

German Wintershall is now acting on its ambitions to expand in the North Sea by purchasing drilling fields for a total USD 1.25 billion.

Photo: Harald Pettersen/Statoil

60,000 barrels of oil per day. That is how much German Wintershall - a subsidiary of chemical group BASF - expects to secure from the Norwegian part of the North Sea next year, says the oil company in a press release announcing the purchase of shares for a total USD 1.25 billion in oil and gas fields from Norwegian Statoil.

"With the acquisition of these shares in oil and gas fields, we are continuing on our growth course in Norway and intensifying the cooperation with our partner Statoil," said Kurt Bock, Chairman of the Board of Executive Directors of BASF.

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