Angola: Statoil sales in Kwanza Basin

Statoil has sold down stakes in its operated blocks 38 and 39 in the Kwanza Basin as part of its portfolio management process. Statoil has sold 10% in the two blocks to Ecopetrol. In Block 39 the sale was accomplished through two separate, but simultaneous transactions. Statoil acquired 7.5% from Total under one agreement, then sold a total of 10% through a separate agreement, reducing its net equity by 2.5%.