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Statoil has now acquired Total’s equity stakes in, and taken over the operatorships of, the Martin Linge field and the Garantiana discovery on the Norwegian continental shelf.
As part of the deal, 121 employees from Total have been transferred over to Statoil, which now has a 70 percent interest in Martin Linge and a 40 percent stake in Garantiana.
In November last year, Statoil announced that it had agreed a deal with Total to acquire a 51 percent stake in Martin Linge and 40 percent stake in Garantiana for a total consideration of $1.45 billion.
The Martin Linge field is an oil and gas discovery that was made in 1975. The field is located 26 miles west of Oseberg, at a water depth of 377 feet.
