Scandoil  

Det norske acquires Svenska Petroleum’s Norwegian subsidiary


Published Oct 15, 2015
Karl Johnny Hersvik-2
Karl Johnny Hersvik

Det norske oljeselskap has entered into an agreement to acquire Svenska Petroleum Exploration AS (Svenska) for a cash consideration of USD 75million on a cash free, debt free basis.

Svenska has 15employees in Norway, of which all will be transferred to Det norske.

Svenska holds 13 licenses in Norway, including the Krafla/Askja (25%), Garantiana (20%), Frigg Gamma Delta (40%) and Fulla/Lille-Frigg (25%) discoveries in the North Sea. In addition, the company holds four exploration licenses in the Norwegian Sea.

This transaction states our ambition of growth on the Norwegian Continental Shelf, and is a solid contribution to building Det norske as an independent E&P company. This increases our ownership in attractive discoveries with resource upside potential and is a logical bolt-on acquisition for Det norske, given the overlap in our asset portfolios”, says Karl Johnny Hersvik, Chief Executive Officer of Det norske.

Tags: Det norske oljeselskap ASA, Svenska Petroleum Exploration




Advertisment:

Add a Comment to this Article

Please be civil. Job and promotion will not be added into the comment page.

(Use Markdown for formatting.)

This question helps prevent spam:

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml