The publicity-shy advisory boutique Lambert Energy Advisory relied on good old fashioned relationship banking to secure a role helping Statoil with a $1.6bn asset disposal on Monday, making it Financial News's investment bank of the week.
Statoil announced on Monday its plans to partially sell its share in three Norwegian fields to the UK's Centrica and exit five other projects. Statoil will also enter into a long-term gas sales agreement with the energy firm to deliver five billion cubic meters per year from 2015 to 2025 to the UK market. Pending government approvals, the transaction will complete on January 1, 2012.