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Statoil Adjusts Portfolio in Angola

Statoil is divesting its 5% participating interest in the ENI-operated block 15/06 offshore Angola to the concessionaire Sonangol E.P. The transaction, subject to customary closing conditions, includes a consideration of $200 million and an effective date of January 1, 2013. “This transaction is part of Statoil’s continued optimisation process to maximise value and focus financial and organisational capabilities to core assets.