Catering staff on strikeHepatitis outbreak

Saga Petroleum’s saga over

person Norwegian Petroleum museum
Norway’s Saga Petroleum oil company was acquired in 1999 by Norsk Hydro and Statoil, with the former securing the operations team and incorporating this in its oil and energy division.
— The offer document and prospectus for acquiring all the shares in Saga Petroleum was dated June 10th 1999.
© Norsk Oljemuseum

Statoil collaborated with Hydro in the acquisition process and, in return for its shareholding in Saga, received 25 per cent of the company’s total assets.
As a listed company, Hydro was freer to implement a take-over than Statoil. The latter acquired holdings in a number of licences on both Norwegian and British continental shelves, and the operatorship for Halten Bank South – with the Kristin field – in the Norwegian Sea. In accordance with the take-over deal, Statoil also became operator on 1 January 2003 for the Snorre, Vigdis, Tordis and Visund fields. The company secured Saga’s 1.6 per cent holding in Statfjord, boosting its overall interest from 42.73 to 44.34 per cent.

Sources:
Petter Nore. Norsk Hydro’s Takeover of Saga Petroleum in 1999. A Case Study,
Store Norske Leksikon.

Catering staff on strikeHepatitis outbreak
Published December 2, 2019   •   Updated January 2, 2020
© Norsk Oljemuseum
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