UPDATE 1-Statoil says paid "minor" price for 4 Tullow Oil Norway stakes

(Corrects headline to show that Statoil (LSE: 0M2Z.L - news) bought Tullow Oil (LSE: TLW.L - news) licenses across Norwegian Continental Shelf, not just in the Arctic)

Sept 6 (Reuters) - Statoil (Hamburg: 1245893.HM - news) :

* Says increases share in the Wisting discovery in the Barents Sea, Norway's northernmost oil and gas discovery

* Statoil and Tullow Oil Norway have agreed on a transaction whereby Statoil will increase its equity in four licences on the Norwegian Continental Shelf (NCS), including Wisting

* Statoil investor relations spokeswoman Anca Jalba says company paid "minor price" for the stakes, declines to reveal exact amount, adds that transaction is done as part of Tullow's withdrawal from the NCS

* Statoil says transaction reflects our strong belief in exploration potential on Norwegian continental shelf and our commitment to create value in Barents Sea

* Statoil has a strong position in Hoop geological area in Arctic and sees further exploration potential which can bring synergies to area

* Through this transaction Statoil becomes biggest equity holder in Wisting discovery, so far only big discovery in Hoop area of Barents Sea

* NPD estimates Wisting discovery to contain 241 million boe of recoverable resources

* New (KOSDAQ: 160550.KQ - news) , substantial discoveries are required to maintain production on the NCS, and resource additions from northern Norway are central in reaching this target

* Agreement also gives access to interesting exploration prospects in Norwegian Sea and Barents Sea that will be matured for possible drilling in 2018

* Transaction is contingent upon approval of authorities Source text: http://www.statoil.com/en/NewsAndMedia/News/2016/Pages/06sep-wisting.aspx Further company coverage: (Reporting by Terje Solsvik and Joachim Dagenborg)