Statoil (NYSE: STO) and Total (NYSE: TOT) have completed their transaction whereby Statoil has 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.
Statoil now has a 70% interest in Martin Linge and 40% in Garantiana. 121 employees from Total have been transferred over to Statoil in accordance with the sale and purchase agreement and applicable legislation.
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