New Norwegian Oil Firm OKEA Secures Funding

New oil and gas firm OKEA has secured the support of investment company Seacrest Capital Group, which will invest up to $200 million in OKEA, it announced Wednesday.

OKEA, which is led by industry veteran Eirk Haugane and former Norwegian Energy Minister Ola Borten Moe, aims to "unlock value" in conventional oil and gas discoveries by bringing them into production in a timely and cost-effective manner.

OKEA CEO Erik Haugane commented in a company statement:

"We are delighted to be partnering with investors of the caliber and experience of Seacrest Capital Group. We look forward to working with them to establish a major new development and production company in this prolific petroleum producing region. 

"We have a highly experienced, committed and skilled team with the ability to deliver our investment strategy. Seacrest's focus, resources and long-term commitment is a perfect fit to enable OKEA to become a major Norwegian oil and gas company."
 
"There are numerous discovered fields in Norway that have huge potential value but are not producing today. The OKEA team has expertise in successfully delivering oil and gas projects through rigorous planning, the creation of powerful relationships with all project stakeholders, using innovative and cost-effective technological advances and development strategies. OKEA will use this expertise to unlock the maximum commercial potential in projects offshore Norway."

 



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Petrofac Suspends Group Chief Operatin... (May 25)
 -  EnQuest On Track For Kraken First Oil ... (May 25)
 -  Energean Signs Lease Agreement for Exp... (May 25)
 -  Seadrill CEO Praises Workforce (May 24)
 -  Serinus Shuts-In Sabria Field Due to S... (May 23)


Most Popular Articles

From the Career Center
Jobs that may interest you
Financial Reporting Analyst
Expertise: Accounting
Location: Houston, TX
 
Field Specialist
Expertise: Field Development|Field Service Tech
Location: Dickinson, ND
 
Field Technician Intern
Expertise: Field Development
Location: Charlotte, NC
 
search for more jobs

Brent Crude Oil : $51.46/BBL 4.63%
Light Crude Oil : $48.9/BBL 4.78%
Natural Gas : $3.18/MMBtu 0.90%
Updated in last 24 hours