No 01



EU Approves Statoils Acquisition Of BP Shares In Algeria Gas Projects

The EU on 19 December approved an agreement through which Statoil will acquire 49% of BPs interests in the In Salah gas project and 50% of BPs interest in the In Amenas gas project for a total $740mn (MEES, 30 June 2003). As part of the agreement, the two companies will work together with Sonatrach to operate the two projects. Following the transaction, Statoil will have a 31.85% interest...