Norwegian energy company Sval Energi said Monday it had strengthened its position on the Norwegian Continental Shelf by closing the previously announced Martin Linge and Greater Ekofisk Area transactions with Equinor and the acquisition of Suncor Energy Norge AS.
The acquisitions from Equinor of holdings in the Martin Linge Unit and the Greater Ekofisk Area closed on September 30, with an effective date of January 1, 2022. The acquisition of Suncor Energy Norge AS closed September 30, with an effective date of March 1, 2022.
The transactions add around 34,000 barrels of oil equivalent per day to Sval’s production.
Nikolai Lyngø, CEO of Sval Energi said: “We are satisfied to have completed these transactions. We are adding significant value to our team and portfolio. Together with our new colleagues and partners, we now look forward to creating additional value from our assets on the Norwegian Continental Shelf.”
The transactions with Equinor include a 19 percent share in the Martin Linge Unit and Equinor’s full participating interest in the Greater Ekofisk Area.
The acquisition of Suncor Energy Norge AS brings 30 percent additional ownership in the Sval operated Oda field, 17.5 percent ownership in the Fenja field, and 8 additional licenses. 16 employees from Suncor have also joined the Sval team.