Norway buys into Gulf of Mexico oil discovery

State-controlled Norwegian oil company Statoil said it had agreed to buy assets in the US Gulf of Mexico from Houston, Texas-based Anadarko Petroleum for $ 901 mm. Stavanger-based Statoil said the deal covers two oil discoveries and one prospect.
"This deal is an excellent strategic fit with our deep water (Gulf of Mexico) portfolio, building on our recent acquisition of assets from Plains," said Statoil's president and chief executive Helge Lund.

Statoil is the key producer on offshore fields that make Norway the world's third-largest oil exporter after Saudi Arabia and Russia. The latest acquisitions are at or near fields in which Statoil bought stakes in September, the company said.
At the Gulf's Big Foot discovery and Big Foot North prospect, both operated by Chevron, the purchase from Anadarko will increase Statoil's stake to 27.5 % from 12.5 % for each field.

The deal also gives Statoil a 25 % interest in the Knotty Head discovery in the Gulf, operated by Canada's Nexen.
"Inless than two years we have developed a strong deep water position" in the Gulf Lund said. "Our experience and strong technology base from the Norwegian continental shelf are great assets in tackling future developments" in the Gulf.
The Knotty Head discovery is near the Chevron-operated Tahiti and Tonga finds, where Statoil own 25 % of each field, and is also close to the Shell-operated Caesar discovery, where Statoil has 17.5 %.