StatoilHydro to sell stakes in US Gulf

Norway’s StatoilHydro is selling stakes in exploration projects in the Gulf of Mexico after spending billions in the past three years to expand its presence in the region.
The Stavanger-based company may sell "an interest in its quality exploration portfolio" in the Gulf. Details about the farm-down package and sale schedule will be released in coming weeks, a notice said.

"We see it as a natural portfolio adjustment," said Houston-based StatoilHydro spokeswoman Kjersti Torgersen, confirming the plans.
The company will only sell stakes and remain as an operator in the projects, she said.