Statoil, PTTEP split Canadian oil sands interests

Statoil and PTT Exploration and Production completed the agreement to divide their respective interests in the Kai Kos Dehseh (KKD) oil sands project in northeast Alberta, Canada, in May.

Statoil now owns 100% and continues as operator of the Leismer and Corner development projects with PTTEP owning and operating 100% of the Thornbury, Hangingstone and South Leismer areas. At the closing of this transaction, Statoil paid to PTTEP the sum of USD 200M plus a working capital adjustment amount of approx. USD 218M.

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