![]() ![]() M Vest Energy looks forward to working with the other partners in the assets maximizing value for both the Norwegian state and our shareholders." "The license partners have a high focus on extending the lifetime of the fields, increasing reserves, and reducing the environmental footprint. ![]() We are now partners in transportation, exploration, field development, and production licenses, and are well positioned for future growth." Jonny Hesthammer, CEO of M Vest Energy said: ‘M Vest Energy is very pleased to announce a transaction that will further transform the company, a journey that started with the acquisition of 5% of the Polarled gas pipeline in 2020. In Norway these are the Gjøa, Gudrun, Njord, Dugong, and Snøhvit fields," Neptune Energy said. "The transaction underpins Neptune’s corporate strategy to focus its portfolio on core areas. All decommissioning liabilities will be transferred to the buyers. The agreed consideration totals up to $35 million. M Vest will acquire a 0.8% interest in the Ivar Aasen Unit, 7.56 % in the Draugen field, 4.4% in the Brage Unit, 1.2% in the Edvard Grieg Oil Pipeline, and 1.8% in the Utsira High Gas Pipeline. OKEA will acquire a 2.2% interest in the Ivar Aasen Unit. "As a result of this transaction, Neptune will no longer hold participating interests in these assets," Neptune said. ![]() The assets Neptune is divesting include the producing Draugen, Brage, and Ivar Aasen fields, as well as the Edvard Grieg Oil Pipeline and the Utsira High Gas Pipeline, located offshore Norway. Two export pipelines on the Norwegian Continental Shelf to OKEA ASA and M Vest Energy AS. Oil and gas company Neptune Energy said Friday it had agreed to sell its non-operated interests in three producing fields and ![]()
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