Norway sees $1-billion acquisition of offshore assets
Norway The move will see the company take over all operations and assets of Spirit Energy Norway, excluding its ownership of the Statfjord fields, which will be acquired by Equinor.
The deal includes 45 licences with seven producing fields. Sval Energi will operate six of all new fields, two of which are producing.
Production from the combined company is expected to climb to 60,000 boed in 2023.
The transaction has an effective date of January 1, 2022. It is expected to be completed in Q2 2022.
It is the largest acquisition on the Norwegian Continental Shelf since 2019.
Recent Posts
SkyPower Global in 1-GW deal with Zambia electric utility
SkyPower Global has signed a 1-GW power purchase agreement with state-owned Zambia Electricity Supply Corp Read More
Afentra acquisition of Azule assets approved in Angola
The government of Angola has approved Afentra’s acquisition of a 12% non-operating interest in offshore Block 3/05 and a 16%… Read More
TotalEnergies, Vanguard Renewables to develop renewable natural gas
TotalEnergies has agreed with US player Vanguard Renewables to jointly develop renewable natural gas (RNG) in the USA, the French… Read More
Namibia: Sintana takes 67% in Giraffe, eyeing Orange Basin growth
Canadian exploration player Sintana Energy has expanded in Namibia’s Orange Basin with a deal to acquire up to 67% in… Read More
AD Ports Group secures 20-year concession in Luanda
The UAE’s AD Ports Group has signed a concession agreement to operate and upgrade Angola’s multipurpose Luanda Port, the Emirati… Read More
Trident Energy strikes triple deal for Congolese assets
UK-based Trident Energy has signed agreements with Chevron Corporation and TotalEnergies to obtain working interests in the Moho-Bilondo, Nkossa, Nsoko… Read More