RPT-BRIEF-Statoil: Reduced ownership in Agbami Field in Nigeria after expert ruling

viernes 6 de noviembre de 2015 03:28 GYT
 

(Widens distribution)

Nov 6 (Reuters) - Statoil Asa :

* Statoil asa: Reduced equity share at Agbami following redetermination

* Statoil asa says has received an expert calculation of revised tract participations for Agbami Field in Nigeria

* Statoil asa says assuming implementation, this calculation will result in a reduction of 5.17% in statoil's equity interest in field from 20.21% to 15.04%

* Statoil is currently assessing its position in relation to the Expert's decision and the decision of the arbitration tribunal.

* Statoil asa says Statoil has so far made an accrual of NOK 7.5 billion

* Assuming implementation in accordance with the Expert ruling, Statoil will have to compensate other equity owners at Agbami of about NOK 1.6 billion in addition to the accrual as of end third quarter 2015.

* Eventual settlement of any imbalance amount will bemade over time through cash-calls issued by the unit operator.Further company coverage: (Reporting By Ole Petter Skonnord)