Under the agreement terms, Tellus will acquire 20% stake in the Knarr field, 15% in Maria, 6.5% in Ivar Aasen and 4.5% in Veslefrikk.
The deal also includes equity stakes in seven exploration licenses located in the vicinity of the Knarr, Maria and Ivar Aasen fields and in the Barents Sea.
Tellus will also acquire 3.87% stake in the Utsira High Gas Pipeline, 2.58% in the Edvard Grieg Oil Pipeline and 20% in the Knarr Gas Pipeline.
Tellus will also participate in the development of Maria field.
Wintershall board of executive directors member Martin Bachmann said: "With this transaction we are selling shares in non-operated fields at a competitive price and reducing our investment obligations."
Wintershall has set target to achieve oil and gas production capacity to 190 million barrels of oil equivalent (boe) by 2018.
Based on development of the oil price in the period from 2016 to 2019, Tellus will further pay up to $100m.
Subject to approval by the relevant authorities, the transaction is planned to be completed by the end of 2015.
Subsequent with the Wintershall transaction, Tellus has agreed to become a 100%-subsidiary of Sequa Petroleum.
