AGR Produces Evaluation for Sval Energi’s $1bn Deal on the Norwegian Continental Shelf

Source: www.gulfoilandgas.com 1/18/2022, Location: Europe

We are very pleased that our recent work providing Sval Energi with the expert evaluation has led to a successful outcome. The recent news of our client’s deal to acquire the majority of Spirit Energy’s Norwegian operations and assets for over $1billion USD is an important step in their expansion plans.

The transaction is the biggest acquisition on the Norwegian Continental Shelf since 2019 and offers Sval Energi a strong asset base for further growth in the region, as it moves to deliver on its ambition to be a major player in the Norwegian energy sector.

AGR’s Reservoir Management & Asset Evaluation teams were engaged to support the preparations for this milestone transaction. Our expert skills in these areas were required to evaluate the assets included in the deal and compile an independent Competent Person Report (CPR) of all technical and commercial aspects related to the investment decision.

As a result of the transaction, Sval Energi’s portfolio now consists of material producing assets in addition to ongoing and planned development projects, which is set to add further significant production in the short to medium term.

The portfolio also holds discoveries and exploration licenses with longer term growth and value potential. Following the transaction, Sval Energi also became the operator of two producing subsea fields.

Sval Energi chose to partner with AGR due to our decades of experience, range of flexible, specialist skills and the expertise offered by our multi-disciplined team – a team with proven track record of providing rigorous analysis and independent asset evaluation that investors can rely on to make well-informed investment decisions for stock exchange listings, Reserve Based Lending (RBL), equity raising, asset transactions and mergers and acquisitions.


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