A partner in Norway’s only offshore Arctic oilfield project, Goliat, has sold its 15 percent stake to deep-pocketed oil company StatoilHydro for a pre-tax 1.3 billion kroner ($210 million) and the value of a separate two-field asset swap.

Norway’s Det Norske Oljeselskap said it wanted a stronger cash position from the sale of its License PL 229, 229B and 229 C stakes. The sale was made retroactive to 10 months ago.

“Through this transaction, we have secured financing of all our plans until 2012 and enabling the company to grasp new opportunities that may occur in today`s market,” said Det Norske chief exec Erik Haugane.

He said he wanted his company to focus on “new oil projects” including in the upcoming Round 20 of licensing, some which covers the Barents Sea near Goliat.

State income earner StatoilHydro operates the nearby Snoehvit field, the first offshore liquefied natural gas project, and site of Europe’s first LNG export terminal.

StatoilHydro has made some of the biggest exploration strides alonside the Goliat property operated by Milan-based ENI.

Meanwhile, Det Norske also picks up 10 percent in much of license PL 102 in the Jotun field area, though not including the producing Skirne and Byggve fields. The junior oil company obtains StatoilHydro`s 57 percent interest in a carve-out area of PL 169 just south of Jotun.

StatoilHydro gets 10 percent in PL 265 and the Ragnarrack discovery, where Det Norske retains a 20 percent stake.