No 26



Statoil Enters Algerian Gas Sector Through BP Share Transaction

Statoil and BP signed an agreement on 23 June 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, 16 June). 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 in the In...