OKEA ASA (OB:OKEA) entered into an agreement to acquire 28% working interest in PL037 (Statfjord Area) from Equinor Energy AS for $220 million on January 1, 2023. The agreement contains contingent payment terms applicable for 2023-25 for certain thresholds of realized oil and gas prices. The transaction is conditional upon Norwegian governmental approval and is expected to be completed in the fourth quarter of 2023. The transaction has been approved by the authorities and closing is expected to take place on 30 November 2023. As of November 30, 2023 OKEA has notified Equinor Energy AS that completion will be postponed.

OKEA ASA (OB:OKEA) completed the acquisition of 28% working interest in PL037 (Statfjord Area) from Equinor Energy AS on December 29, 2023.