DNO Completes Norwegian Asset Swaps with Equinor

Source Press Release
Company Faroe Petroleum plcDNO ASAEquinor ASA 
Tags Corporate Deals, Deals, Upstream Activities
Date April 30, 2019

DNO ASA, the Norwegian oil and gas operator, today announced the completion of the asset swap agreement between Equinor Energy AS, a wholly-owned subsidiary of Equinor ASA, and Faroe Petroleum plc, a wholly-owned subsidiary of DNO, following approval by Norwegian authorities.

The transaction has an effective date of 1 January 2019.

As part of the transaction, Faroe Petroleum’s interests in the non-producing Njord and Hyme redevelopment and Bauge development assets were exchanged for interests in four Equinor-held producing assets on a cashless basis, including interests in the Alve, Marulk, Ringhorne East and Vilje fields.

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