COPENHAGEN – On Thursday, Equinor (NYSE: EQNR) said it has agreed to buy Sval Energi’s 11.8% stake in the ongoing offshore development Halten East Unit in the Norwegian Sea, increasing the company’s ownership to 69.5%.
The recoverable reserves in Halten East are estimated to be around 100 million barrels of oil equivalents, of which approximately 60% is gas that will be exported to Europe via Kaarstoe in southwestern Norway.
Equinor is the operator of the Halten East Unit, in which Var Energi owns a 24.6% stake while Norwegian state-owned oil firm Petoro has 5.9%.
(Source: Reuters)
