StatoilHydro sells some Gulf of Mexico assets for 243 mln dollars

0 Comments | AFP, December, 2007

OSLO (AFP) — Norwegian energy giant StatoilHydro said Saturday it had agreed to sell its shallow water assets in the Gulf of Mexico to US company Mariner Energy for 243 million dollars (165.4 million euros) in cash.

The sale of the company's subsidiary Hydro Gulf of Mexico and all of its shallow water assets in the area comprises production of some 9,600 barrels of oil equivalent (boe) per day with proven reserves of 8.3 million boe, StatoilHydro said in a statement.

"StatoilHydro's book value of the sold assets indicates that the sale will generate a minor accounting loss," the company said, adding that it expected to complete the sale in the first quarter of 2008.

"StatoilHydro wishes to focus its strategy, operations, people and capital in the deepwater...