Following the transaction, Statoil will become the owner of about 20% of the Athabasca and will write off $500 million.
Norwegian company first doubted the profitability of the Canadian operations as far back as two years ago, when it made a decision to stop exploration on the largest of the affiliated fields. Oil-bearing sands of Canada are considered to be one of the most expensive sources of oil in the world, but, at the same time, they are characterized by extremely high emissions of greenhouse gases.