Chrysaor Buys Stakes in OKEA’s 2 Licenses

November 13, 2019

North Sea oil producer Chrysaor Norge has exercised an option to buy stakes in OKEA’s Grevling and Storskrymten discoveries offshore Norway.

The Norwegean oil production company OKEA confirmed the sale of 20% of the Company's participating interest in Grevling (PL 038D) and 18.57% of the Company’s participating interest in Storskrymten (PL 974) following Chrysaor's options exercise.

The Ministry of Petroleum and Energy has approved Chrysaor's purchase, said a stock exchange announcement.

Completion of the transactions is expected to occur no later than 31 December 2019, it said.

Last year, Chrysaor bought a 15 percent stake in the OKEA-operated PL038D license, containing the Grevling discovery. The acquisition was first announced in March 2018.

Okea estimates that Grevling contains around 32.6 million barrels of recoverable oil.



Current News

Proserv Acquires Stake in Power System Monitoring Expert, Synaptec

Proserv Acquires Stake in Power System Monitoring Expert, Synaptec

SPE Offshore Europe Celebrates 50th Anniversary

SPE Offshore Europe Celebrates 50th Anniversary

Offshore Vessel Firm Bourbon Sets Up Offshore Wind Division

Offshore Vessel Firm Bourbon Sets Up Offshore Wind Division

Saipem Nets 1B Euros Worth of Contracts in Ivory Coast

Saipem Nets 1B Euros Worth of Contracts in Ivory Coast

Subscribe for OE Digital E‑News

Offshore Engineer Magazine