Statoil (STL.OL) has agreed to sell stakes in three exploration licenses offshore the Faroe Islands to U.S. major Exxon Mobil Corp (XOM.N) and develop the acreage together, the Norwegian energy producer said on Tuesday. Exxon will acquire 50 percent interest in licenses 009 and 011 and 49 percent interest in license 006, where Atlantic Petroleum is a minority owner with 1 percent interest. Statoil will retain 50 percent interest and operatorship in all three licenses off the Faroes, a group of North Atlantic islands located between Iceland and the Shetland islands off the northern coast of Britain. "This farm-down fits well with our strategy of portfolio optimisation," Statoil's Executive Vice-President for Exploration Tim Dodson said in a statement.
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