BASF (BASFY.PK) will expand its production and reserves of oil and gas in the North Sea through...

|About: BASF SE ADR (BASFY)|By:, SA News Editor

BASF (BASFY.PK) will expand its production and reserves of oil and gas in the North Sea through an asset swap with Statoil (STO), which also will receive at least $1.35B. BASF unit Wintershall gets shares in three producing fields containing reserves of ~100M boe, including a 32.7% stake in the Brage field.