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2015-06-23 18:05:00

WINTERSHALL SELLS ASSETS: $602 MLN

WINTERSHALL SELLS ASSETS: $602 MLN

Germany's Wintershall agreed Thursday to sell stakes in several North Sea assets and fields to Tellus Petroleum for a combined $602 million.

Tellus will pick up a 20 percent stake in the Knarr field, a 10 percent stake in the Yme field, a 6.46 percent stake in the Ivar Aasen field and a 4.5 percent stake in the Veslefrikk field.

All of the assets are located on the Norwegian Continental Shelf.

The package also includes equity stakes in seven exploration licenses in the vicinity of the Knarr, Maria and Ivar Aasen fields and in the Barents Sea.

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WINTERSHALL SELLS ASSETS: $602 MLN
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