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Wintershall buys Statoil shares in North Sea

12 Sep 2014
Germany’s Wintershall says it is buying shares in North Sea oil and gas fields from Norwegian company Statoil for $1.25 billion.

The deal, which includes shares in two production fields, a pipeline project and four exploration licenses, is expected to close by the end of the year.

Wintershall board chairman Rainer Seele says the company wants to become one of the leading oil and gas companies in Norway and this move will place the company in a strong position in the region.