Ministry Approval of the Acquisition of the Aurora Discovery from Equinor

Source: www.gulfoilandgas.com 10/15/2020, Location: Europe

Reference is made to the stock exchange notice of 15 July where OKEA ASA announced that the Company had signed a Sales and Purchase Agreement (SPA) with Equinor Energy AS ("Equinor") for the acquisition of Equinor's operated 40% working interest in PL195 and PL195 B, which include the Aurora discovery, with effective date 1 January 2020.

OKEA is pleased to announce that the Ministry of Petroleum and Energy has approved the transaction and appointed OKEA as the new operator of the licences. "As operator of PL195 and PL195 B, we will pursue a low-cost development of Aurora", says Mr Erik Haugane, CEO of OKEA ASA.


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