Sval Acquires Suncor Energy Norge

Source: 8/5/2022, Location: Europe

Sval Energi is pleased to announce that the company has signed an agreement with Suncor Energy to acquire Suncor Energy Norge AS.

The corporate transaction includes the following assets on the Norwegian Continental Shelf:

17.5% ownership in the Fenja field (PL 586)
30% ownership in the Oda field (PL 405)
8 additional licenses

The transaction will add a daily production of approximately 4000 barrels of oil equivalent and 19 million barrels of oil equivalent in reserves to the Sval Energi portfolio.

CEO Nikolai Lyngø of Sval Energi said: “This transaction represents another step on our growth journey. We already have a capable team in place and look forward to welcoming new colleagues from Suncor’s Norway team – they will strengthen us even further.

“The Norwegian Continental Shelf is still attractive, and we are building a strong cash-generating business in Norway with producing assets, future developments, and exciting exploration opportunities. We are executing our strategy and transforming into a significant player on the Norwegian Shelf.”

The acquisition of Suncor Energy Norge AS constitutes a transfer of undertaking according to the Norwegian Working Environment Act, which means that the employees of Suncor Energy Norge AS will be transferred to Sval.

The commercial effective date is 1 March 2022, and the deal is expected to be closed before the end of the year. The transaction is subject to approval from the relevant Norwegian authorities.

United States >>  9/29/2022 - VAALCO Energy, Inc. announced that at VAALCO’s special meeting of stockholders held today regarding the proposed combination with TransGlobe Energy Co...
Nigeria >>  9/28/2022 - Daystar Power, a West African provider of hybrid solar power solutions to commercial and industrial (C&I) businesses, announced its acquisition by She...

United Kingdom >>  9/28/2022 - Reabold, the AIM quoted investing company with a portfolio of upstream oil and gas projects, is pleased to announce the execution of a Sale and Purcha...
Bermuda >>  9/23/2022 -  Höegh LNG Holdings Ltd. (“Höegh LNG”) announced the completion of its previously announced acquisition of Höegh LNG Partners LP, pursuant to which Hö...

United States >>  9/23/2022 - Reliance New Energy Limited (“RNEL”), a wholly owned subsidiary of Reliance Industries Ltd (“Reliance”), has signed definitive agreements to invest i...
United States >>  9/22/2022 - Talos Energy Inc. announced the execution of definitive agreements to acquire EnVen Energy Corporation ("EnVen"), a private operator in the deepwater ...

Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.