Selling out of Goliat
The Norwegian oil company, DNO, is selling their shares in the Goliat field in the Barents Sea. The company believes that the project is too big for a small company like DNO.
The DNO shares of the Goliat project are taken over by Norwegian StatoilHydro. Chief Executive in DNO Eirik Haugane says to NRK that this project needs investments up to 500 million EUR, which is too much for DNO to handle. DNO will receive a total of 160 million EUR for their shares in Goliat.
The income from the Goliat shares will finance DNO’s costs for many years ahead. The plan is to use the income on oil field which DNO are operating today, like Frøy in the North Sea. The company has 120 employees.
