Noreco Norway Sells Petroleum Activities

Norwegian Energy Company ASA announced Monday that its fully owned subsidiary Noreco Norway AS has agreed to sell off its exploration license interests, organization and management systems to Djerv Energi AS.

Additionally, Noreco Norway will transfer its 4.36 percent participating interest in the Enoch license to CapeOmega AS. Subject to completions, the proposed transactions will lead to a subsequent ceasing of all of Noreco Norway’s petroleum activities.

The proposed transactions are conditional upon approvals by the Norwegian Ministry of Petroleum and Energy and Ministry of Finance. Additionally, the transaction entered into with Djerv is conditional on approval from NOR06 bondholders.



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
 -  Lundin Norway Makes Oil, Gas Find in B... (Feb 24)
 -  PSA: Norway's Petroleum Industry Must ... (Feb 24)
 -  Sound Energy Progresses Tendrara Drill... (Feb 24)
 -  Lukoil Finds Oil at Iraq Well (Feb 22)
 -  Gazpromneft-Sakhalin: Ayashsky License... (Feb 22)


Most Popular Articles

From the Career Center
Jobs that may interest you
Regulatory Specialist - Delaware Basin Regulatory Affairs
Expertise: Regulatory Compliance
Location: Midland, TX
 
Sr Regulatory Permiting Analyst - Delaware Basin Regulatory Affairs
Expertise: Regulatory Compliance
Location: Midland, TX
 
Regional Manager - Saybolt
Expertise: Business Development|Operations Management|Surveying
Location: Linden, NJ
 
search for more jobs

Brent Crude Oil : $56.58/BBL 1.32%
Light Crude Oil : $54.45/BBL 1.60%
Natural Gas : $2.62/MMBtu 1.15%
Updated in last 24 hours