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Equinor Sells Its Stake In The Norwegian Market

Written by Paulo Nogueira
Published on 18/10/2018 at 08:03
equinor, vagas, emprego, onshore, offshore, rio de janeiro
equinor, vagas, emprego, onshore, offshore, rio de janeiro
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The Norwegian Oil and Gas Giant Equinor Signed an Agreement with PGNiG to Sell Its Non-Operated Interests in the Tommeliten Discovery on the Norwegian Continental Shelf (NCS) for US$ 220 Million.

Equinor said on Thursday that Tommeliten Alpha is a gas/condensate discovery made in 1976. Through this transaction, Equinor will divest its 42.38% interest in the Tommeliten Unit (PL 044 TA) and 30% interest in PL 044 in the North Sea. Both are operated by ConocoPhillips.

In 2015, ConocoPhillips decided to cancel the development project for the Tommeliten Alpha discovery amid low oil prices.

Recoverable net resources in Tommeliten Alpha are 52 million barrels of oil equivalent, said Equinor.

“Equinor is committed to transforming the Norwegian Continental Shelf in the coming decades. Achieving this ambition requires prioritization. We are selling this asset so we can focus our efforts on priority projects and assets that create greater value for us,” says Jez Averty, Senior Vice President of Operations in the Southern North Sea.

The closing is subject to approval by the PGNiG Supervisory Board and the usual conditions, including partner and authority approvals.

This transaction follows Equinor’s sale of its operated interest in the King Lear discovery to Aker BP for US$ 250 million on October 15.

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Paulo Nogueira

Graduated in Electrical Engineering from one of the country's technical education institutions, the Instituto Federal Fluminense - IFF (formerly CEFET), he worked for several years in the offshore oil and gas, energy, and construction sectors. Today, with over 8,000 publications in online magazines and blogs on the energy sector, the focus is to provide real-time information on the Brazilian job market, macro and microeconomics, and entrepreneurship. For questions, suggestions, and corrections, please contact us at informe@clickpetroleoegas.com.br. Please note that we do not accept resumes at this contact.

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