Det norske oljeselskap

Det norske oljeselskap has entered into an agreement to acquire Svenska Petroleum Exploration for a cash consideration of USD 75 million on a cash-free, debt-free basis. Svenska holds 13 licenses in Norway, including interests in the Krafla/Askja (25%), Garantiana (20%), Frigg Gamma Delta (40%), and Fulla/Lille-Frigg (25%) discoveries in the North Sea. In addition, the company holds four exploration licenses in the Norwegian Sea. The transaction is expected to close in the first quarter of next year.


STAY CONNECTED

Don't miss the latest content delivered to your email box weekly. Sign up for the JPT newsletter.